Everything appears to be in line. Here is the benchmark with a single G4 933GHz Quick Silver, 512 MB RAM, OS X 10.4.?:
File: test.mp4
Sunday, 06:51:04: Export Stream started
Sunday, 06:51:39: Encoding
Sunday, 06:52:37: Encoding
Sunday, 06:54:51: Encoding
Sunday, 06:57:21: Encoding
Sunday, 06:59:52: Encoding
Sunday, 07:02:19: Encoding
Sunday, 07:04:42: Encoding
Sunday, 07:07:04: Encoding
Sunday, 07:09:34: Encoding
Sunday, 07:12:04: Encoding
Sunday, 07:14:34: Encoding
Data rate 4.68 Mbps (4.55 video, 0.13 audio)
Time to complete: 00:22:49
And my 2.7GHz Core i7 MacBook Pro, 16GB RAM, 768GB SSD, OS X 10.9.5:
File: test.mp4
Sunday, 07:37:32: Export Stream started
Sunday, 07:37:34: Encoding
Sunday, 07:37:37: Encoding
Sunday, 07:37:46: Encoding
Data rate 4.79 Mbps (4.67 video, 0.13 audio)
Sunday, 07:37:48: Movie completed
Time to complete: 00:00:16
If you compare the time spent to do that job on both the machines and if you take into account the power-consumption of both the devices I wouldn't recommend a G5 for daily use but to go for e.g. a core2duo >2GHz MacBook. The higher price of such a device certainly will be compensated by your energy-savings... (on the other hand you will have less costs for heating...)
It's a pity - despite of their gorgeous design those PowerMacs are dinosaurs concerning power-consumption.
Look a the new iBook - it would be funny to upgrade the chassis of the G5 to that tiny logic board.
So much space left and the space 'n saved energy would be sufficient for a nice house bar and making ice cubes
The CubeG4 and the PPC-"Books" are of another kind and lower-performance/longer running time doesn't have such a big impact on your energy bill.
Sorry about that nice machines...