While transcoding to mp4 is kinda nice and doesn't degrade that much, it's SO not h.264 in terms of quality. So, anyone got it running yet? I'd be grateful for some pointers in getting it installed so I can choose the 264-setting in the transcode profiles.

I suppose my Athlon XP1800+ should be able to play back SD-content. My PB1.5GHz can play back 720p with almost all frames Sure, the encoding time is horrendous, but I leave the mythbox on all the time, so that shouldn't be much of a concern.