A method for storing data at a user terminal from a compressed digital data stream received thereat, comprising the steps of: receiving a user input that is indicative of a desired transcoding parameter; - comprising selecting by the user a quality level from a plurality of available quality levels, said transcoding parameter comprising said quality level for the transcoded data; transcoding at least a portion of the received data stream at the terminal to produce a data stream with a lower bit rate in accordance with the desired transcoding parameter to provide corresponding transcoded data; wherein said transcoding comprises: - decoding the data stream to the extent necessary to effect requantization thereof and - performing the encoding steps necessary to produce a data stream with a lower bit rate from the data after requantization, thereby providing transcoded data dependent on said user input and storing the transcoded data at a storage device associated with the terminal; wherein the stored transcoded data is available for subsequent playback by the user, characterized in dynamically changing by the user the quality level as the transcoding and the concurrent display of the transcoded data progress, the transcoded data being provided at a variable bit rate that corresponds, when averaged, to said lower bit rate and said lower bit rate is in accordance with the user-selected quality level. receiving a user input that is indicative of a desired transcoding parameter; - comprising selecting by the user a quality level from a plurality of available quality levels, said transcoding parameter comprising said quality level for the transcoded data; transcoding at least a portion of the received data stream at the terminal to produce a data stream with a lower bit rate in accordance with the desired transcoding parameter to provide corresponding transcoded data; wherein said transcoding comprises: - decoding the data stream to the extent necessary to effect requantization thereof and - performing the encoding steps necessary to produce a data stream with a lower bit rate from the data after requantization, thereby providing transcoded data dependent on said user input and - comprising selecting by the user a quality level from a plurality of available quality levels, said transcoding parameter comprising said quality level for the transcoded data; transcoding at least a portion of the received data stream at the terminal to produce a data stream with a lower bit rate in accordance with the desired transcoding parameter to provide corresponding transcoded data; wherein said transcoding comprises: - decoding the data stream to the extent necessary to effect requantization thereof and - performing the encoding steps necessary to produce a data stream with a lower bit rate from the data after requantization, thereby providing transcoded data dependent on said user input and - decoding the data stream to the extent necessary to effect requantization thereof and - performing the encoding steps necessary to produce a data stream with a lower bit rate from the data after requantization, thereby providing transcoded data dependent on said user input and storing the transcoded data at a storage device associated with the terminal; wherein the stored transcoded data is available for subsequent playback by the user, characterized in dynamically changing by the user the quality level as the transcoding and the concurrent display of the transcoded data progress, the transcoded data being provided at a variable bit rate that corresponds, when averaged, to said lower bit rate and said lower bit rate is in accordance with the user-selected quality level.