MOD video files?!

[telboy]

I've just bought a JVC video camera. I filmed something and thought I'd put it on the computer and have a mess around with stuff.
It films it as an .MOD/.MOI file and will only play it in Power Cinema, which frankly is, a load of old tosh!!

Does anyone know of a free way to convert the files so they will play in other players? and so that I can mess around and edit the clips?

I've tried a couple off the net, but they are only demo versions and put a watermark across the picture, or run out after 5 conversions.

Bit dissapointed really because it says mpeg2 format video, but it aint.