First, run and install IsoBuster. You can download it here: IsoBuster http://www.smart-projects.net/isobuster/ Then open your bin file with isobuster and then click on mpegav. Right click on the .dat file. It should be named something like avseq01.dat. Once you right click, click on extract but filter only m2f2 mpeg frames. Then choose the destination and click okay and it should work. Post if you have any problems.
Why not try VCDGear? http://www.vcdgear.com/ It can convert *.BIN to *.MPG It's pretty self-explanatory Post if you need help.
When i tried to convert a bin to mpeg with vcd gear the video plays fine but I have no sound. Is there a way to check to see if the bin originally had sound?