The cutoff date was April 12th. I would try to get the place you bought it from to return/exchange it. Over the last few years, I've always felt that the upgrades are worthwhile.

Tiger includes something new called Core Image which will probably be incorporated into the next release of iPhoto / iMovie. The rumor is that it will greatly increase the performance of those applications.

http://handbrake.m0k.org/ is an opensource program and very easy, though slower than other solutions.