[root@FFMPEG1 ~]# ffmpeg -i udp:@:5000 -acodec aac -ac 2 -b:v 8000k -ar 48k -async 1 -bufsize 3M -s 720x480 -r 31.67 -vcodec libx264 -y output.mp4
ffmpeg version 0.10.4 Copyright (c) 2000-2012 the FFmpeg developers
  built on Jun 13 2012 09:51:06 with gcc 4.7.0 20120507 (Red Hat 4.7.0-5)
  configuration: --prefix=/usr --bindir=/usr/bin --datadir=/usr/share/ffmpeg --incdir=/usr/include/ffmpeg --libdir=/usr/lib64 --mandir=/usr/share/man --arch=x86_64 --extra-cflags='-O2 -g -pipe -Wall -Wp,-D_FORTIFY_SOURCE=2 -fexceptions -fstack-protector --param=ssp-buffer-size=4 -m64 -mtune=generic' --enable-bzlib --disable-crystalhd --enable-gnutls --enable-libass --enable-libcdio --enable-libcelt --enable-libdc1394 --disable-indev=jack --enable-libfreetype --enable-libgsm --enable-libmp3lame --enable-openal --enable-libopenjpeg --enable-libpulse --enable-librtmp --enable-libschroedinger --enable-libspeex --enable-libtheora --enable-libvorbis --enable-libv4l2 --enable-libvpx --enable-libx264 --enable-libxvid --enable-x11grab --enable-avfilter --enable-postproc --enable-pthreads --disable-static --enable-shared --enable-gpl --disable-debug --disable-stripping --shlibdir=/usr/lib64 --enable-runtime-cpudetect
  libavutil      51. 35.100 / 51. 35.100
  libavcodec     53. 61.100 / 53. 61.100
  libavformat    53. 32.100 / 53. 32.100
  libavdevice    53.  4.100 / 53.  4.100
  libavfilter     2. 61.100 /  2. 61.100
  libswscale      2.  1.100 /  2.  1.100
  libswresample   0.  6.100 /  0.  6.100
  libpostproc    52.  0.100 / 52.  0.100
[mpegts @ 0xa9ce20] Unable to seek back to the start
[mpeg2video @ 0xab0920] mpeg_decode_postinit() failure
    Last message repeated 13 times
[mpegts @ 0xa9ce20] max_analyze_duration 5000000 reached at 5016000
[mpegts @ 0xa9ce20] Estimating duration from bitrate, this may be inaccurate
Input #0, mpegts, from 'udp:@:5000':
  Duration: N/A, start: 66690.562800, bitrate: 8224 kb/s
  Program 1
    Stream #0:0[0x44]: Video: mpeg2video (Main) ([2][0][0][0] / 0x0002), yuv420p, 720x480 [SAR 8:9 DAR 4:3], 8000 kb/s, 32.60 fps, 29.97 tbr, 90k tbn, 59.94 tbc
    Stream #0:1[0x45]: Audio: mp2 ([3][0][0][0] / 0x0003), 48000 Hz, stereo, s16, 224 kb/s
[buffer @ 0xd9c820] w:720 h:480 pixfmt:yuv420p tb:1/1000000 sar:8/9 sws_param:
Incompatible sample format 's16' for codec 'aac', auto-selecting format 'flt'
[libx264 @ 0xadc880] VBV maxrate unspecified, assuming CBR
[libx264 @ 0xadc880] using SAR=8/9
[libx264 @ 0xadc880] using cpu capabilities: MMX2 SSE2Fast SSSE3 Cache64
[libx264 @ 0xadc880] profile High, level 3.1
[libx264 @ 0xadc880] 264 - core 120 r2151 a3f4407 - H.264/MPEG-4 AVC codec - Copyleft 2003-2011 - http://www.videolan.org/x264.html - options: cabac=1 ref=3 deblock=1:0:0 analyse=0x3:0x113 me=hex subme=7 psy=1 psy_rd=1.00:0.00 mixed_ref=1 me_range=16 chroma_me=1 trellis=1 8x8dct=1 cqm=0 deadzone=21,11 fast_pskip=1 chroma_qp_offset=-2 threads=3 sliced_threads=0 nr=0 decimate=1 interlaced=0 bluray_compat=0 constrained_intra=0 bframes=3 b_pyramid=2 b_adapt=1 b_bias=0 direct=1 weightb=1 open_gop=0 weightp=2 keyint=250 keyint_min=25 scenecut=40 intra_refresh=0 rc_lookahead=40 rc=cbr mbtree=1 bitrate=8000 ratetol=1.0 qcomp=0.60 qpmin=0 qpmax=69 qpstep=4 vbv_maxrate=8000 vbv_bufsize=3000 nal_hrd=none ip_ratio=1.40 aq=1:1.00
[NULL @ 0xadcd60] Codec is experimental but experimental codecs are not enabled, see -strict -2
Output #0, mp4, to 'output.mp4':
    Stream #0:0: Video: h264, yuv420p, 720x480 [SAR 8:9 DAR 4:3], q=-1--1, 8000 kb/s, 90k tbn, 31.67 tbc
    Stream #0:1: Audio: none, 48000 Hz, 2 channels, flt, 128 kb/s
Stream mapping:
  Stream #0:0 -> #0:0 (mpeg2video -> libx264)
  Stream #0:1 -> #0:1 (mp2 -> aac)