Instant Video To Go is a USB 2.0 device that provides hardware transcoding of video.
Its intended purpose is to speed up the conversion of video to a format suitable for portable devices like the iPod with video or PSP. The purported speed improvement over software transcoding is a factor of 15.
I may just grab one if I can determine that it supports user-defined output resolutions ... I need 480 X 320 for my Palm Tungsten TX.