XDA member scuccia has created a small file apk that you can install to your DROID Incredible that will keep the video in mp4 format. As it sits currently, your device will take the video in mp4 but then converts and saves it in a 3gp format. This format can limit your playability across multiple platforms, such as a PS3 media server.
This will also save you from having to find a PC based program to convert the file into a format that other devices can support. As I’m sure you are all aware, multiple conversions to different file formats result in data loss. This will save a conversion step and keep your video quality intact.
One very important thing to note is this MOD is ONLY for Droid Incredible devices. I’m sure other devices and developers will start making similar packages for us.
Head on over to XDA to pick up the file and keep those videos the way they should stay.