Does PowerEncoder MPEG-4 support converting MPEG-2 files to MPEG-4 files and MPEG-4 files to MPEG-2 files?

Yes, by using this product you will be able to convert basically any file type from one to the other, and back again.

 

For example, you can download an MPEG-4 (h.264) file and convert it to an MPEG-2 file, burn it onto a disc and play it on your standalone DVD player that otherwise isn't compatible with the original MPEG-4 file type.