Sure - if the vid is an WMV or MOV or AVi etc, just load the video into a decent non-linear edit app such as Vegas or Premiere and save off the audio stream.
Depending on the licensed codecs you have, you might nt be able to do the MP3 converison in the video editor - you may have to save it off to a WAV for example, then run the WAV file through something like Soundforge...
If the video is an MPEG, then it's even easier - just run the MPEG file through the demuxxer of your choice and feed the MPA stream into any half decent MP3 producer...
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