World's first frame accurate H.264 AVCHD cutter without re-encoding!

I often capture from Satelite and my tuner records full ts data (actually SkyStarHD on tt drivers with dvbdream in raw ts record mode)
And besides of Video and Audio (multiple) the ts contains variety of other data ie teletext dvb subtitles emm ecm epg ... it would be handy to be able to drop that data if possible. In most cases im interested in video, audio (sometimes multiple) and on some occasions dvbsubtitles.
If i could select just that what i need and drop everything else it would reduce the filesize sometimes quite significantly. This applays for all streams i record.

I second the request to remove unwanted streams, but from a different angle. I'd like the ability to output only the AAC stream from a .TS file. I want to create a high quality audio only file from some of my favorite concerts recorded with the Hauppauge HD PVR and edited with Smart Cutter.

Thanks!