iFunia WMV Converter is a video conversion utility. You can use it to convert your WMV files to other formats that have better support on the Mac, such as AVI, MP4, FLV, DivX, XviD, MPG, MOV, MOD, and MKV. There are several conversion profiles available for devices like the iPod, iPhone, iPad, gaming consoles like the Xbox 360 and Playstation 3, and other smartphones and tablets. It seems that the app is frequently updated, because it already contains conversion profiles for the iPad Mini and the iPhone 5, which were released not long ago.
This converter will only allow you to open WMV files. After they are loaded, you can click on them and then select one of the conversion profiles from the drop-down menu on the right part of the screen. You can even assign different profiles to different files on your conversion queue.
There is a basic video editor that can trim and crop videos and adjust some of their properties, like brightness, contrast and saturation.
In my testing, I converted a 30-second WMV file into a 720p H.264 file for the iPad. The whole process took around 30 seconds and the resulting file looked and sounded fine.