I'm working on a mod that checks to see if an uploaded video file is already ok for use and if so saves the file as is for the site h264 version. This preservers the video quality, doesn't change upload size and reduces server CPU load. The main reason I worked on this is because I was frustrated with dolphin re-encoding files downloaded from other sites and making the files bigger with less quality.
Its working for my site but the checks are still vary basic (is the codec h264 and is the bit rate less then 1024).
If others are intrested I will clean up and polish the code for general use, make a guide and post it in the market.