MPEG Streamclip is a converter, an encoder, a player and an editor.
Converter features:
- from MPEG, MPG, VOB, PS, M2P, MOD, VRO, DAT, TS, M2T, MMV, REC, VID, AVR to MPEG, TS, M2V, AIFF, M1A, AC3
- multiplexing of M2V, M1V, MPV files with AIFF, M1A, MP2, MPA, AC3 files to MPEG, TS, M2V, AIFF, M1A, AC3
- very fast, no loss of video quality, perfect audio/video sync
- compatible with DVD authoring applications
- special Headed format to import unsupported frame sizes in DVD authoring applications
- special Unscaled demuxed files, for the QuickTime Pro media authoring application
- can automatically join multiple VOB or TS files
- manual command to scan the stream and fix timecode breaks

Encoder features:
- from MOV, AVI, DV, MP4, MPEG, MPG, VOB, PS, M2P, MOD, VRO, DAT, TS, M2T, MMV, REC, VID, AVR, M2V to MOV, AVI, DV, MP4
- MP4 (MPEG-4) files are compatible with Apple iPod and with 3G cellphones
- supports any QuickTime-compatible video codec available for Windows, and many audio formats
- very high quality encoding, all in YUV color space, either unscaled or with 2D-FIR scaling (better than bicubic)
- motion-adaptive deinterlacing and chroma reinterlacing, with perfect audio/video sync

Player features:
- playback of MOV, AVI, DV, MPEG-4 files
- playback of muxed/demuxed MPEG/VOB files and transport streams with MPEG, AC3, PCM/AIFF audio
- playback of MPEG files larger than 4GB, or segmented in many files
- support for multiple audio tracks in transport streams and MPEG/VOB files

Editor features:
- cut/copy/paste of MPEG files and transport streams, at keyframe (GOP) level
- frame accurate cut/copy/paste of MOV, AVI, DV, MPEG-4 files
- trimming function, with unique "revert trimming" feature
- access to keyframes with arrow keys