Free Audio Video Pack 2.0 is a collection of portable audio and video converters with support for all major formats (AVI, MPG, MP4, MP3, WAV, FLAC, AAC, MOV, WebM, WMV, WMA, OGG, WebM, FLV, OGV, 3GP). More unusually, there are also tools for extracting audio tracks from CD images based on the CUE sheets.
There are plenty of options here. You're able to convert videos to AVI/ MPEG, MP4, FLV/ SWF, 3GP/ 3G2, WEBM and OGV. Other tools extract the soundtrack from supported video formats, and of course you can convert audio files from one format to another.
You have considerable control over these operations, too. When converting files to AVI, say, you're able to set video and audio codecs, bitrates, frames per second, audio sampling frequency, volume, resolution, cropping, and more.
This is a little trickier to use than it should be, because Free Audio Video Pack 2.0 spreads its functionality across multiple tools. If you need to convert a video, for instance, you can't just open a single program, choose your source file and output format. Instead you must browse through the front-end menu to find the right converter (Video > MP4, MKV > MP4, say). The conversion tools don't all have the same interface, either, which can add to the confusion.
Still, play around with the program and you'll figure out how it works within a few minutes. And if you only want to run a few conversion types - "anything to MP4", perhaps - then you can run that converter directly, without using the front end menu at all (the individual tools are all portable executables).
Put it all together and Free Audio Video Pack 2.0 is a useful collection of tools, especially as there's no adware. If you can use the program's fine control over your media conversions then it's worth a try.