We have released a new converter, which is aimed at making it easier to convert OSM files into standard GIS formats and use them for routing of motorized traffic.
Even if the output format is made in particular for easy use with our own software (RouteWare), the generated TAB / SHP / MIF files can also be used in other environments.
The converter also runs a number of error checks and allows you to correct these manually afterwards in OSM (using Potlatch / JOSM).
It can be downloaded from here:
http://www.routeware.dk/download/osm2routeware_100.exe
Regards
Uffe Kousgaard