If you're looking for a powerful high-quality video converter, player, editor for MPEG, QuickTime, and iPod clips then MPEG Streamclip may fit the bill.
Not only that, MPEG Streamclip now edits DivX and can even download the latest DivX releases from the DivX corporation. It's clear that MPEG Streamclip is a multi-faceted utility that can be used to do a variety of things from playing most movie formats and then performing simple editing in terms of Cut, Copy, Paste, and Trimming clips (which isn't much but enough for most of us).
Because the editing feature is so limited however, it may make more sense to import the semi-edited files you have and then import them into a DVD authoring application to burn them to disk or another editing program such as Windows Movie Maker.
MPEG Streamclip is an all in one solution to convert MPEG video to multiple formats, from AVI or QuickTime DV up through MPEG-4 and perform basic editing on them.
MPEG Streamclip supports the following formats
MPEG, VOB, PS, M2P, MOD,VRO, DAT, MOV, DV, AVI, MP4, TS, M2T, MMV, REC, VID, AUD, AVR, VDR, PVR, TP0, M2V, M1V, MPV, AIFF, M1A, MP2, MPA, AC3