I use Gordian Knot:
http://www.divx-dige...ordianknot.htmlHere is a link with step by step instructions. Yes - it is a pain and Gordian Knot has several programs built into it. It's all about learning. Took me a few tries before I got it going correctly (still using AC3 sound as the MP3 sound track was offset incorrectly so I am still working on this).
Download the newest fullpack of Gordian Knot with all the apps built into it. Also download the Codec patch (it includes Divx pro with adware so run your Ad-Aware program again to rip out Gator - it won't break the player).
I generally use Divx 3.11a and Ac3 sound right now although for lesser films I will likely reencode the sound separately to MP3 with Bee Sweat (it's in G. Knot but they said doing it separately sometimes works better).
As for the time commitment - read over the instructions and be the judge but just like anything else in life there are few easy shortcuts. If you feel it's worth your time than good luck.