I'm skeptical. The x264 guys looked at CUDA and found it wasn't worth it. The badaboom app required a $600 video card to encode a movie as fast as a Core i7 940. And then the quality output from badaboom wasn't even nearly as good as x264 output, and this test was back in November, and there have been some x264 speed improvements since then. Show me the benchmarks!
Well, while I agree with you. I think the claims that Nvida and NERO made were when they tried to encode video on a lets just say for our purposes a Core Duo or Core 2 Duo machine (or a computer with a popular processor not very good at parallel processing) without CUDA, and then compared the total time when the same exact machine using CUDA and its graphics card to perform the encoding. So while it may be true that OpenCL may not be as good as we make it all out to be, only a fraction of computer owners currently own core i7 processors, which were made to perform much better at parallel processing. However, the majority of computers that use core duo or core 2 duo are not very good at this, so chances are that they would benefit very much off this technology.
But I do have one question. When OpenCL and more specifically, CUDA is used, does it switch all of the encoding operation over to the graphics card and free the processor, or do the processor and graphics card work simultaneously to work through the process? Because if it just switches over all of the task to the graphics card... Well that is pretty much pointless and I agree with SirOmega that if you have a high end or multi-core processor that it is possible you could barely benefit from such a technology, if at all. However, if it utilizes the processor WITH the graphics card to encode... Well then we have ourselves a recipe for success. Imagine having OpenCL/CUDA on a machine with a high-end graphics cards with a processor capable of vast parallel processing. This could DRASTICALLY shorten the amount of time used to encode a video, along with a lot more applications/processes.
Edit: I found the answer to my own question, "NVIDIA CUDA technology dramatically reduces the time it takes to transfer video files to portable devices, while freeing up the CPU to perform other tasks." It appears as though it will be used to free up the processor and not used in part with the processor. While from a practical point of view for desktops and notebooks, it would draw less power not having to use both the GPU and CPU to perform the task and just one or the other. It also would allow the user to continue using their computer as they normally would as the CPU is free to do whatever the user wishes (just not anything too graphically dominant). But from a idealistic point of view, I think that I would rather sacrifice power and/or the ability to be able to use a CPU that is strain-free to have my video encode much faster. Chances are if I was using a notebook that I wouldn't be encoding on the fly and would have access to a power source; and if I were using a desktop I wouldn't mind using extra power.