Program w/good Target File Size options that does not require the exact known bitrate

[OrchestraAndChoir]

I am looking for a program that is sort of like AVI Recomp but one that supports other formats like Quicktime, FLV, etc. I say AVI Recomp because the Target File Size is great & matches most of the time the size I want. So is there any type of program out there with good Target File Size options that does not require the exact known bitrate ?

I prefer to use quality based encoding. I don't want to waste my time burning DVD or Blu-Ray discs. Video files can be stored on a hard drive and played not only on your computer, but also on your TV. You can use network media players WD TV Live to play videos from your network.

I prefer to compress videos with x264 (MPEG-4 AVC) or xvid (MPEG-4 ASP) video codecs. Although I recommend the CRF for encoding, you can use a 2-3 path encoding method to get a particular file size.

You can encode videos with command line or use lots of GUI applications that work with x264 and xvid.