Although TMPGEnc and older versions of Vdub, can be used to convert
ASF/WMV home movies, this guide shows another method using Graphedit. There are
times when some of those home made ASF/WMV movies don't want to be
converted, they may have bad frames, or simply stubborn. You can use
Graphedit to convert from most movie types to anything you want, so long
as you have filter/codec support.
This guide shows the conversion of one of my WMV movies. Originally made
with Windows Media Encoder and saved to WMV V8 (WMV2)
Tools
Graphedit
Load Graphedit and choose File > Render Media File

Select the file from your hard drive

The main window will now show, displaying a Graph of what is needed to
"Play" the existing file. Since we don't want to play the file we need to
edit the graph.

Delete the last 2 boxes from the graph (Default direct sound device) and
(Video render)

You are now left with the above graph and are ready to start adding
filters to it. From the "Graph" menu select Insert Filters. Scroll down
the list until you see "DirectShow Filters" click the + sign to open the
tree and select "AVI Mux" Highlight its name and select insert filter.
Scroll through the list again and select "File Writer" again highlight the
name and select insert filter. A navigation window will pop up asking you
to name the "Output file" select a location on your hard drive and give it
a name, since this guide is going to convert to AVI type "test.avi" then
click open.

Close the filter window, and you will now see to new filters added to your
graph. In the above example you can see the top graph is dealing with the
audio and the bottom graph with the video. At the end of each box you will
see a little square, click the little square on the output from "Windows
media Audio Decoder" at Xform out and drag the mouse to the input of the
"AVI MuX" and release the mouse. When you do this, you will see another
input created at AVI Mux, now click the output of "Windows Media Video
decoder" at Xform out and drag that to the second input of "AVI Mux"

Finally click the output of AVI Mux and drag it to the input of "File
writer" now called test.avi.
The final graph should look like the one
above.

Now right click the AVI Mux and select Properties, check the "Full" box
for interleaving and click OK. You can also right click this filter to see
the conversion progress on larger files.

You are now ready to convert the file, press the green play button to
start converting. Since my example is only a small file it will be done in
seconds. Take a look at the file it has made and play it. The output will
be uncompressed video and uncompressed audio.

If you wanted to convert much larger files and don't want large
uncompressed outputs, insert a compression filter. Graph > Insert filter > Video
compressors > Click the + sign to open the tree and select a compressor from the
list. In the above example I have added the DivX 5 codec and as you can see I
have inserted it between the output of windows media video decoder and AVI mux.
You can also do the same for the audio.