I am about to start editing a project that is supposed to finish as an
 Mpeg file on a CD-ROM. Forgive my ignorance, can I take a completed
 RexEdit(ed) AVI and convert it to MPeg format? What software
 tools do I need?

Thank you

For Mpeg1 try Panasonics mpeg converter
(plugs into Premiere)...see link below.

http://www.networkserve.co.jp/mpeg/index_e.htm

For Mpeg2 try this hardware converter
from Wired (low end) or Amber from Canopus
(high end).

Low end converter: http://www.wiredinc.com/index.html

Chris

We are wanting to put some video that we have already 
created on to a CD. Could you suggest the best product 
out there for turning our current .avi into MPEG. Thanks 
for the advise

Kathy,

I've had great success with the Panasonic encoder. I've 
been able to run video using standard mpeg1 format expanded 
to full screen on a laptop and projected via LCD projectors 
to multiple 10ft x 8ft screens. The quality is amazing and 
produces a file that is about 10Mb per minute.

At $79 US it's a bargain.
See link