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Format Factory is the easiest multimedia file conversion utility that I have come across. And the best part about Format Factory is that it’s FREE!

Format Factory - Free media file format converter

Take a look at some of its features:

All to MP4/3GP/MPG/AVI/WMV/FLV/SWF.
All to MP3/WMA/AMR/OGG/AAC/WAV.
All to JPG/BMP/PNG/TIF/ICO/GIF/TGA.
Rip DVD to video file , Rip Music CD to audio file.
MP4 files support iPod/iPhone/PSP/BlackBerry format.
Source files support RMVB.

Support converting all popular video,audio,picture formats to others.
Repair damaged video and audio file.
Reducing Multimedia file size.
Support iphone,ipod multimedia file formats.
Picture converting supports Zoom,Rotate/Flip,tags.
DVD Ripper.
Supports 45 languages

Make your digital photos come to life with Microsoft Photo Story 3 for Windows. This is a great program for those who are on a budget (who can beat free). Add music, narration, motion and other special effects with this free slide show application.

Microsoft Photo Story 3 for Windows

Once you have finished organizing and adding effects and transitions, you can save the project to a .wmv file format that can be played on your personal media player or in Windows media player. If the finished slide show needs to be converted into another format you can use a free program called Format Factory to change the file type.