ATI GPU/GPU Video Transcoding

From slashdot:
ATI is soon to start releasing software that can transcode video from say MPEG-2 to Divx. Instead of taking 2.5 minutes to transcode 50 seconds of video on an AMD Athlon X2-4800+, the ATI GPU/GPU transcoder can do it in 24 seconds.

I’ve been waiting for something like that, especially since you can buy something to encode to DivX from S-Video in real time at Costco for just over $100.