This is not for trans-coding, it's for decoding and encoding from source. It'd be nice for tans-coding, but I haven't seen it used for or described for that in any reviews.
The hardware assist is broken on the NV40, but works on the GF6600GT and the latest non-bridged PCIe GF6800 (NV41) and GT/Ultra (NV45). Not sure about it on the GF6200 though.
Check out nV's info on "PureVideo".
FiringSquad had a good article on the G70's features lately in their HTPC review which might shed some light on this, but I can't seem to get Firingsquad's server right now.
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