Just tested this encoder, it works fine for 16:9 widescreen movies and produces video with very good quality. But when I tried to convert 640x480 video, it got cropped too much to fit 400x240. Also when I tried adding '-o' option, it was converted to 400x304 which is not very good for mplayer. So the only thing I'm still missing is proper conversion for 4:3 movies. Anyway, good work, it's a very useful tool =b
To be honest, actually I noticed some framedrops on complicated panning scenes with this preset, but it still looks quite acceptable or even good. And we still have potential for quite a noticeable performance improvement by using YUV colorspace directly. Also video decoder from ffmpeg library that is used in mplayer can be probably better optimized for arm