Downloads need to have overscan adjusted in many cases. CP32, your method fails to properly fix this issue, so you lose 10% of your picture into the overscan, lots of the image is cut off on screen. See the sticky in the set creator area on how to address this.
ConvertX isn't the best as an all-in-one or "do everything" software. I've used it recently for encoding some downloaded files, included the ability to adjust for overscan in version 3. But I then import those encoded VOB files into TDA (actually, I use DVDWS2 -- rename episode VOB files to MPG), much better menus this way. Have a few rare episodes of this and that, mostly PAL (non-USA broadcasts). It sucks at trying to convert PAL to NTSC, sync issues and blurriness galore.
It does encode quickly, and the encode quality can be quite nice if settings are picked smart (highest quality encoding, not fastest, for example). On my Core 2 Duo laptop, I get about 120fps (4x encoding). It's decent for 16:9 movies and tv shows too, making no menu (back to back). I did this way on an XVID recently, from the HD feed. My recordings were interrupted from our weather problems at the time.
Most things I downloaded I watched as XVID (no conversion) on my XBOX or Philips. These are a couple of primetime shows, things I'll never give to other folks, DVDs I'll buy when released.
I hate to see members making for-keep DVD sets from downloads. It's so bottom-of-barrel in quality.
There are a few who like to collect avi/xvid/divx for ipod viewing. 
