iTool iPhone Video Converter is a commercial video converter. It allows you to convert several formats of videos into MP4 files, which can be played on your iPhone and other mobile devices like iPads and alike. The codecs used by this app are MPEG-4 and MPEG-4 AVC (also called H.264). This app uses conversion profiles. There are six of them, and three of them use MPEG-4 and the other three, make use of MPEG-4 AVC. They vary in the resolution they use, as well. If you want to, you can change some conversion settings for each profile, but you can't save your changes for later use.
Graphically, the application looks like other commercial video converter, and it is identical to iTool AVI to iPhone Converter. It even uses the same profiles.
This app doesn't come with a video editor, which is a standard feature in most commercial converters. It does allow you to trim your video by manually typing the start and end time.
In short, this is a working commercial converter. It is lacking some important features, though. And if we are to trust the About Window, the last update was in 2009, so you might be better off looking for an alternative.