Yup, TCPMP and pocketDivXEncoder (or I use the "paid for" version - Lathe) are top notch.
I have just spent a fairly unpleasant train journey from London to Glasgow with my trusty mini s and 12 hours of TV proggys on my 1gig mini sd.
(Didn't take 12 hours btw - but I've got the return journey too!)