Try the app Kinoma. The player for the palm itself is free. But Kinoma Producer is 29 bucks. For free, you get a demo which will only encode 15 seconds of your movie clip into the proper format. I don't recall as to whether it's mpeg1 or not but you can check versiontracker on that. It's late and I'm too lazy to. Exercise time! Producer turns the files into .prc's but I think they may be mpg under the hood. Good luck!
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