mediacoder
這裡有教學: http://hk.knowledge.yahoo.com/question/?qid=7006091104898
也可讀入 flv (youtube/ flash clips), rmvb or other common video formats
convert to dvd(mpegII), mpg (mpegI)
after converting, you can cut that clip with other softwares
you may use videoredo http://www.videoredo.com
去字幕, not likely possible
but you may still be able to get rid of subtitles by overlaying
用黑底遮左佢
adobe premier might be able to handle this ...