Diligent as you may be sparkle is not always reliable for letting you know when an update is available and it was down to the guys and gals over at TUAW to let me know about the release of the new version of Handbreak (0.9.4), which is now 64bit compatible!
If by chance you haven’t heard of Handbreak before, it’s the leading free, open-source video transcoder available for the Mac (as well as PC and Linux platforms). It can take your .avi files or dvds and turn them into sparkling new mp4 files (with default options including encoding for iTunes, the web and the like) or anything else your heart desires.
I can highly recommend it, though running on a newer Intel Core Duo Chip or above is essential as video transcoding takes a surprising amount of time and the slower your processor the longer it takes!
Anyway find the update here.