Windows Media Encoder is a powerful tool for content producers who want to capture audio and video content using the many innovations in Windows Media, including high-quality multichannel sound, high-definition video quality, and support for mixed-mode voice and music content.
Windows Media Encoder is currently available as Windows Media Encoder 9 Series (32 and 64 bit versions) and Windows Media Encoder Studio Edition Beta 1 version.
http://www.microsoft.com/windows/windowsmedia/forpros/encoder/default.mspx