This graph looks pretty awesome to me, however, it shows pretty clearly that the Adobe Media Encoder could be better written for Multi-Threading. Well, in all honesty, what it shows is that AME can handle multi-threading, but only if the output codec can handle it. From about 17:30 – 19:30 the encoder was going to MPEG2, and from 19:30 – 4:00 it was exporting to H.264 encoded QT files.
