1. A system for converting a picture frame rate between a source video at a first rate and a target video at a second rate, the system comprising: a phase plane correlation calculator configured to determine a first motion vector estimate based on previous frame data and current frame data; a global motion calculator configured to determine a second motion vector estimate based on the previous frame data, the current frame data, and the first motion vector estimate; wherein at least one of the first motion vector estimate and the second motion vector estimate is used to interpolate an intermediate frame; and a motion compensated interpolator configured to assign a final motion vector through a quality calculation that utilizes data from the first motion vector estimate and the second motion vector estimate.