Mkv was designed specifically to handle a wide range of codecs, so that conversion is minimised and retention of quality maximised.
The amount of time, effort and money spent on conversion to other more restrictive, proprietary containers and codecs which loses quality and features is mind boggling.
Why not simply obtain a cheap media player that handles mkv and the usual H.264, DD, DTS, sub formats and save a world of pain?
The same applies to storage: HDD are now cheaper than optical media and more compact.
A WDTV Live + 2TB passport makes a great combination that is almost universally portable.
Really looking forward to seeing v2.1 Harmy SW via this method.