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I use sorenson squeeze, not sure if there are any cheap programs on windows that will use that many threads, writing for parallelism is hard, the only program I have ever had that maxes out all my cores properly is 3DStudio Max.
Under other OSs there is more choice. I use a bunch of processing apps under Linux that are heavily threaded, I'll ask around and see if there are any video converters.
What specific format do you mostly transcode from->to?
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