I use handbrake. It's a free download and has presets. Unfortunately, there's no preset for QHD screens (you can create your own though). I just use the iphone 4 preset then tweak the size values to fit the droid better. Works like a charm. The file sizes can be a bit big though (because of the resolution), but you can change the quality settings to match a particular file size. I usually go with around 600-750mb depending on the length of the movie.