Vconverter allows you convert an Online Video like 'YouTube videos' to more popular formats like wmv, mov, mp4, mp3, 3gp etc. When you submit a url, it will download the file to server and convert to the video format. Then you can download the converted file.
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Jaya, Have you tried kissyoutube.com ?
It doesnot allow you to convert flv files to more popular ones but the download speed and response rate is quick.
Why not tring My YouTube Converter? It's really easy to use for computer beginners to download and convert YouTube streaming video for playback on your iPod, PSP, Mobile Phones...
James here we are discussing only freeware and freebies.