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Maybe I'm wrong as to whats happening and how it works... but the idea of doing encoding using the video card sounds best...
I would look at what video cards the people who are doing Bitcoin mining are using and grab one of those.
Apparently doing the encoding/decoding in the video card is umpteen times faster than using the main CPU.
Then you can get 2 and run them in SLI or crossfire mode (nvidia/ati)
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