Emicsoft MPEG Converter for Mac can convert MPEG 1/2 to MOV, MP4 which can be played with QuickTime player on Mac OS x.
More output formats are also supported like AVI, DivX, XviD, 3GP, WMV, MKV, FLV, SWF, VOB, etc. The program can also extract audio track to MP3, WAV, WMA, AAC, AC3 formats to enjoy them on iPod, iPhone, PSP, PS3, Xbox, Zune, BlackBerry etc.