How to transcode video for the Nokia N800

I have a Nokia N800 that I haven’t had much time to play with, but I am about to go away on a trip which will involve a lot of time commuting on buses, so I figure I should start thinking about it again. Luckily for me, this page has pretty good instructions of what settings to use with mencoder to make it all look good on the N800. I haven’t tried them yet, but I will report back when I do.