Yes there is a way, download MPEG streamclip from versiontracker.com. Once you have your movie in there, export it to the desktop using the iPhone export settings, then drop it in iTunes. You may have to experiment with the export settings to get optimum quality. I always use 100% and a 2-pass for optimum picture quality, it takes longer but the results are better. If it doesn't work, then your format is wrong. Keep trying as it does work, you just have to get your settings right for whatever your trying to do. And write down the settings that work best, as you will forget next time you do this...Good luck.