HandBrake

You have a couple of options: For the New iPad iPad - Up to 720p. This preset will still work great on the new iPad. It will produce up to 720p content and keep filesizes down and thus is more suited for the limited space on this device. High Profile - Up to 1080p. It'll take a long time to encode,...

Can anyone tell me more about "Multiple instance support?"

I'm on a Core i5 Macbook Pro with 8GB of RAM, how can I take advantage of what sounds like the ability to encode several videos at the same time? I'm using the 64bit version.