Video Converters

I've heard for years from Cousin Steve about HandBrake. My question is this - Do I need it? What does it do? Well, I've finally progressed enough in my audio/video "career" to finally understand what it is. Amongst other things, it is a video converter.

Here's a clever little video with no audio per se, just a quick view of what HandBrake is, and what it does. Check it out at: http://youtu.be/W93bC0x1AC0