Yes, it's free. There is another script to deal with DVDs, linked in the 2nd post of the thread.
The script's ace that isn't found in any other converter is that it's very fast. It only recodes the video or audio only if needed. Unlike simple remuxers that only work on H.264, it can deal with a variety of video formats.
It uses 1-pass constant-quality to encode, which is the fastest and has highest consistent quality. And it's easy to use, just drag-drop. Drop one or 10 movies, or one or 10 folders. It will process them all.
The script's weakness is that, well, it's a script. There is no GUI, only a console interface. People like fancy interface with pretty colors.