Nokia Beta Labs has just released an update to the Internet Tablet Video Converter. According to Victor Brilon (vbrilon), Nokia Sr. Product Manager:

The new version now provides support for Windows Vista as well as XP. In addition, we’ve made some serious upgrades to the codecs used so the video quality should be significantly enhanced. Many of the bugs reported have been fixed by this release…

The utility is currently Windows only but a Mac version of the converter is rumored to be coming.

3rd party developers interested on extending the utility can make use of the API which is publicly available at Maemo.org.

Links: Internet Tablet Video Converter - Nokia Beta Labs