Application Benchmarks: Media Encoding
When it comes to audio encoding, the Phenom II X4 945's overclock allows about a 20% increase in performance, bringing it within a hair of the Core i7's stock performance. The overclocked i7 ups the ante another 10% or so, however.
As for video encoding, the situation remains similar to the audio encoding benchmarks. The overclocked Phenom II comes very close to stock i7-920 performance.