If you are using Windows and don't mind paying for it then TMPGEnc Authoring Works ($99.95) does everything you want.
Transcode feature. Never worry about
running out of space.
Sometimes you might have so much
content that you can't fit it on the
DVD. What do you do? You can get rid
of some clips, or you can use the
transcode feature which can
automatically adjust the bitrate of
your movie so that it will fit on your
target media. Simply set your target
media (DVD, Blu-ray Disc) or set a
custom output size and TMPGEnc
Authoring Works 4 will do the rest.
Multiple tracks. Up to 99 tracks per
Got a lot of footage? Add up to 99
video tracks to your project. That's
99 episodes, 99 home videos, 99
slideshows, 99 tracks of whatever
video you've got! So go ahead and an
extra track or two...or three...or
Create interactive menus. Use
templates or customize them yourself.
What's a DVD, Blu-ray, or DivX ULTRA
disc without a nice menu? The menu
wizard will guide you through the
menu-making process, allowing you to
create menus in standard and high
definition with aspect ratios of 4:3
or 16:9. You can even create pop-up
menus with your Blu-ray Disc projects.
Of course, you can choose not to
create a menu at all as well.