Simply put, it is a reproducible measure of how fast your machine can encode a short HD-quality video clip into a high quality x264 video file. It’s nice because everyone running it will use the same video clip and software. The video encoder (x264.exe) reports a fairly accurate internal benchmark (in frames per second) for each pass of the video encode and it also uses multi-core processors very efficiently. All these factors make this an ideal benchmark to compare different processors and systems to each other.
Benchmark Results: The Intel Core I7 950 was the fastest of the reasonably priced (sub-$300) processors in the first pass of the x264 HD Video encoding benchmark. Second pass, which is much more processor intensive, the Intel Core I7 950 fell just behind the AMD Phenom II X6 1100T Black Edition by nearly 1FPS or 3%.