VBR Frame Level SVCD Splitter?

No way for MPEG-2 frame-cutting without new rendering like great authoring programs do! Learn more about MPEG-2 encoding. MPEG-2 is encoded with P-, and B-frames! You only can cut at I-frames - the begin of a GOP (Group Of Pictures). TMPGEnc, DVDAVI do so.

Yes, I know M2-Edit Pro 4.0 and have tested a long time. That's one of the great programs I meant, and nobody owns. It is able to cut on P-, B-frames because it can shorten or cut GOPs by generating the closing GOP frame. But why this trouble?? For SVCD cuts into 2-3 parts you only need DVD2AVI. Make separate projects for each part with demuxed/decoded audio. Encode, mux and author separated parts and you are done. Another way is Avisynth with the Trim() command to cut the input stream before serving to the encoder.