Posted 27 March 2012 - 07:18 AM
Toast only encodes to MPEG 2 as part of making a video DVD. So choose DVD-video as the format in the Toast Video window and add your mpeg 4 file. Next, choose Save as Disc Image from the File menu (no reason to make a DVD disc unless you want one). In the Roxio Converted Items folder in your Documents folder you'll see that Toast creates a separate .m2v and .ac3 file. The m2v is in MPEG 2 format. When the disc image is done you have two options. One is to use another application (possibly MPEG Streamclip) to multiplex the .m2v and .ac3 files together into a muxed MPEG 2 file or to mount the disc image (via the Toast Copy window) and use MPEG Streamclip to make an MPEG 2 file from the VOBs contained in the VIDEO_TS folder. One note: By default the Roxio Converted Items folder is emptied when you quit Toast. So either leave Toast open or change the preferences if you plan to use the files written in that folder.
It's odd that you want an MPEG 2 file as a standalone.
I'm just a fellow Toast-user so please don't blame Roxio for any misguidance I may provide. And do let me know if your issue gets solved. Cheers from Eugene, Oregon!