Because Sony decided to skip the software part of things with their PSP (wisely, as seldom do hardware companies ever produce great software for Windows), a few independent coders are taking a crack at PSPifying their conversion utilities:

ImTOO DVD to PSP Suite is a powerful DVD to PSP converter. It Includes ImTOO DVD Ripper and ImTOO PSP Video Converter. You can copy DVD movie to almost all popular video formats such as VCD, SVCD, DivX, MPEG, AVI etc with DVD Ripper and PSP Video Converter helps you convert video and audio formats to PSP video and MP3. Download ImTOO DVD to PSP Suite free and enjoy DVD movie on your PSP now.

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Xilisoft PSP Video Converter can convert almost of all popular video files such as DVD, VCD, SVCD, MOV, RM, MPEG, 3GP, AVI to PSP video format with easy-to-use user interface and fast converting speed. Enjoy movies / music on PSP from now!

Freakin' sweet. I'm still waiting for PSPware to come to Windows.