$ ffmpeg -i video_editors_2010.05.31_17-53-00.m2t -s hd720 -aspect 16:9 -b 8192k LucidDrop.mpg
FFmpeg version SVN-r0.5.1-4:0.5.1-1ubuntu1, Copyright (c) 2000-2009 Fabrice Bellard, et al.
  configuration: --extra-version=4:0.5.1-1ubuntu1 --prefix=/usr --enable-avfilter --enable-avfilter-lavf --enable-vdpau --enable-bzlib --enable-libgsm --enable-libschroedinger --enable-libspeex --enable-libtheora --enable-libvorbis --enable-pthreads --enable-zlib --disable-stripping --disable-vhook --enable-runtime-cpudetect --enable-gpl --enable-postproc --enable-swscale --enable-x11grab --enable-libdc1394 --enable-shared --disable-static
  libavutil     49.15. 0 / 49.15. 0
  libavcodec    52.20. 1 / 52.20. 1
  libavformat   52.31. 0 / 52.31. 0
  libavdevice   52. 1. 0 / 52. 1. 0
  libavfilter    0. 4. 0 /  0. 4. 0
  libswscale     0. 7. 1 /  0. 7. 1
  libpostproc   51. 2. 0 / 51. 2. 0
  built on Mar  4 2010 12:35:30, gcc: 4.4.3

Seems stream 0 codec frame rate differs from container frame rate: 59.94 (60000/1001) -> 29.97 (30000/1001)
Input #0, mpegts, from 'video_editors_2010.05.31_17-53-00.m2t':
  Duration: 00:00:12.18, start: 886.777767, bitrate: 25806 kb/s
  Program 100
    Stream #0.0[0x810]: Video: mpeg2video, yuv420p, 1440x1080 [PAR 4:3 DAR 16:9], 25000 kb/s, 29.97 tbr, 90k tbn, 59.94 tbc
    Stream #0.1[0x814]: Audio: mp2, 48000 Hz, stereo, s16, 384 kb/s
Output #0, mpeg, to 'LucidDrop.mpg':
    Stream #0.0: Video: mpeg1video, yuv420p, 1280x720 [PAR 1:1 DAR 16:9], q=2-31, 8192 kb/s, 90k tbn, 29.97 tbc
    Stream #0.1: Audio: mp2, 48000 Hz, stereo, s16, 64 kb/s
Stream mapping:
  Stream #0.0 -> #0.0
  Stream #0.1 -> #0.1
Press [q] to stop encoding
frame=  366 fps= 14 q=2.1 Lsize=   12410kB time=12.02 bitrate=8455.0kbits/s
video:12263kB audio:94kB global headers:0kB muxing overhead 0.428462%