I think I'd leave it alone, or at least keep the DIVX copy for watching. It appears to have originated as PAL. So if you're converting to PAL, it'll wind up better than if your converting to NTSC. Again, assuming you can convert it with a decent bit rate it will convert pretty well. I've converted smaller res MPEG4 than that and had "watchable" results, but they were under 1 hour so I was able to use a high bit rate.