Here is even a related How-To that is stickied on XBMC forums:
The setting is found in XBMC here:
he said that it has pretty much all of x264's equivalent routines inside the HW ,so it's just a matter of what the API he wanted help defining gives you access to, id imagine most Video routines as found in FFmpeg can be made to use it in some form given that x264 dev's preferred Decoder etc.
but that's to be determined right now, and OC reliant on Francois if you believe his work behind the scenes at Intel to open up this ASIC for Linux and perhaps other OSS OS code access too (AROS etc) etc.
If You Do get access Michael, please Be sure to get a copy of that ASIC x264 code from Francois and Also run that in your tests along side the normal CPU x264 run's.
in fact pop over to the #x264dev IRC channel and ask them, DS etc about running real informative x264 Encode benchmark tests with the very latest code base etc, most PR web reviews to date do it wrong ( or as Dark_Shikari likes to say/put it "pants on head retarded" ) and do not provide the required data to really know where the real CPU improvements are.
results on each CPU you run tests on would probably be a good start to 2011 benches.
No..i think its just a lack of time before they fix that programming error
it's not a problem AFAIK as x264/ffmpeg has the options to re-code to a given frame rate etc , and i assume the SB ASIC x264 code will also expose the right API to use these options to you (if not now then sooner rather than later)