The results are in! I can burn VCDs. Right now I'm watching the first episode of Read or Die on VCD. So far the quality of the picture is pretty damn good. It isn't perfect, but for things that aren't yet available over here it isn't bad at all. I can see it relying on how good the Divx file I'm using is, but these were really good transfers.
Hmm. Now I need to look into converting the Sifl & Olly episodes I have to VCD.
