Kutter! is a command line VOB, MPG, M1V and M2V cutter.
It will correctly cut at header points, and produce multiple files with numbered extensions.
A picture will be more clear.
If you type "kutter" at the command line, this is what you'll see:



For example, if I want to cut a file named "k19.m1v" which is in my "C:\download" directory, in chunks of ~500KB, I would type this:

kutter c:\download\k19.m1v 500000

And this is what you get:



Created files are tagged with the same extension as the original, and appended ".kutter.X.ttt, where "X" is an incrementing number and "ttt" is either vob, m1v, m2v or mpg.

Some of you may recall "DIKumsizer", a utility I wrote to help the developer of DIKO some time ago.
Well, this is the overhauled/redesigned version, with colorized text, faster, and best of all, fully compliant MPEG cut parts.
Also the files produced are stored on the current working directory, so you can process a file like "C:\myvideos\test\program.vob", and the results will be stored on your current directory and not on the source directory.
Future versions will have a GUI with other options, when time permits.

Download here: http://www.kvcd.net/downloads/kutter.exe

Enjoy!
-kwag