“vConvert.net allows you convert an Online video like ‘YouTube videos’ to more popular formats like wmv, mov, mp4, mp3, 3gp etc. vConvert.net converts FLV to MPEG4 faster and less lossy than a typical transcoder.
When you submit a url, it will download the file to server and convert to the video format. Then you can download the converted file. ”
This service allows download into a number of formats. In addition to Ipod MP4, it supports WMV for windows, 3GP for Mobile, and Mac MOV format. Or if you are interested in only downloading the audio track into MP3 it can do that as well. They support the direct flv download also. I somehow expect that the list of supported formats will continue to grow.