Easy DMG says it all. Drop a file (enclosed by a folder) onto a small, gray pane, and Easy DMG does all the rest, in the background.

Minimal to the extreme, it also works quite nicely - even though there isn't much support. Watch the Gears as your video processes; or, if it's a large file, watch the Gears not move as your file is processed. Of course, some kind of feedback n the way of, say, a progress bar or clock would be even better. The Gears stopped moving when processing was done, but no warning of a finished task.

I would love the option to make password protected dmg's, just like it can be dome in Disk Utility

this is copied off of FreeDMG, which has more features.