I am consistently blown away by the Elgato - still cant believe this is only $150.00.
Hey owners, you all should email tech support and ask for compressor 2.0 support and multi-pass encoding in future updates. I already did ;)

-C

There were some complaints about the 10Mbps bitrate limit. There is the new 1.0.2 software update which ups the limit to 20Mbps, among other nice things.
Here are the changes:
Turbo.264 HD Updates

I am still considering buying it; my only problem is its integration with Compressor 3 and the multipass encoding. I would hate to pay 150 Euros and then get a much faster but lower quality output from Compressor 3.

For those who tried it with Compressor 3, is it possible to use the Frame Controls inside Compressor and still export using the Elgato stick?

Wow. Thanks for the heads up, Cosmin!
Nope, frame controls are controlled in the Elgato window (see previous page for screenshot).

-C

I looked at your screenshot but I don't really see what I was referring to. I would need control over "Output Fields: Progressive", "Deinterlace: Motion adaptive". I have these in Compressor - Frame Controls. Are they in Elgato as well? Maybe they are in that particular screenshot under different names.

Thanks.

Sorry what I mean to say was the picture attached on the first page (there are three attached to one posting- it's the longest photo). It shows all the 3 windows in QuickTime Components for the Elgato. Just look on page one of this posting.
-C