Converting MKV - XBOX360 in 2010 ?

Hi All, Please could someone tell me What is the best software in the year 2010 to convert MKV files to Xbox360 playable file types (such as AVI).
I will be Using an 8GB Memory stick to play them on my xbox360

I am looking for software that can hold the picture quality and is quick at converting the file.

There must be some good software out there in 2010.

Any recommendations would be gratefully appreciated.

Handbrake or ffmpegx will do it, or MKV tools will also do it for you, and is probably the quickest and easiest.
I haven't used it for this, so can't say what the quality is like, but it's usually fine for other stuff.
As it's free it's worth trying.

If you're wanting to convert to AVI, handbrake will not work - handbrake dumped the AVI container several versions ago.

But according to:

Video Playback & Audio Streaming FAQ for the Xbox 360 | Xbox Support

the XBox 360 will play back MP4 files (and m4v and mov) so you can convert to mp4/m4v with the various tools Kevriano listed.

*slaps own head*

I only mentioned that about Handbrake yesterday. I kind of gave a stock answer with extra's.
That said, Handbrake will convert to the other formats you mention without issue.

Do you have a PC with windows and an Nvidia card?

Badaboom is magical. I went from converting MKV blu ray rips that was taking more than two hours to less than an hour using Badaboom.

It uses Nvidia's CUDA technology which also uses the Nvidia GPU to convert, tremendously speeding up the process. I'm running a GTX 295 though.

Cheers Guys! Much appreciated.

Using Handbrake at mo which has brilliant results.
Only downside is about 7 hours for convertion, but quality makes it worth the wait.
Will check the other software as well to see if it's any quicker.

Handbrake is slow I agree, but it's because it reference checks everything along the way, which is why quality is so good. I use it to make my MKV's.