It is both very awesome and the most annoying thing in the world. The core of various projects at work that I wrote use ffmpeg to convert media.
At home I use ffmpeg to rip some DVDs and Blu-Ray discs, although recently I've been favoring Handbrake (still CLI) because it allows for some features ffmpeg doesn't have, like detelecining and just generally not pissing me off as much.
ffmpeg can be very buggy for some specific conversions but it's incredibly powerful.
