Fair Use Wizard 2 is pretty decent but it's a trial-ware "lite" version. The full version costs $30.
However, they released version 2.8 with all features unlocked as a promotion a while back and you can still download 2.8 it from VideoHelp.com (search the page linked below for "version 2.8")...
http://www.videohelp.com/tools/FairUse_Wizard
Also, and I'm not 100% sure on this, I *think* that since this product is built completely from open source code (virtualdub, lame, divx, etc...) and distributed under the GPL, the complete source to FU2 is available online somewhere. Therefore, if you're feeling adventurous you could, in theory, download it and compile the latest version yourself.
GroovyMAME support forum on BYOAC
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