"You guessed right, it was the ts > mpg4 conversion taking up CPU. It made a load of duff mp4 files though, those same recorded files working via the streaming player."
Idea in conversion is that some times you don't have network connection available and you want to watch you recordings, so then you can use this dowload method insteed of streaming method
I found one good feature in Videocenter, Scheduled download, so you can mark to download some feed eg during night time, when you are @home in wlan area, and clips are downloaded to mobile during night time
But if you want to use always streaming and you don't need mpeg4 clips you can now configure those out easily
Adding files in different format to recording folders is also in my TO DO list, since some users has been asking possibility to use plugin until they don't have TV-card, they would like to stream eg. divx movies to phone
Is that what you mean with "my videos"?