Absolutely. Massaging video codec settings to exactly match the console hardware requirements and feeding video data in/out of each console's propriety video A

Absolutely. Massaging video codec settings to exactly match the console hardware requirements and feeding video data in/out of each console's propriety video API is a royal PITA. My feeling is that big budget games are prepared to jump through the hoops in order to wring the last drop of video quality (or add hours more 'content') but when timelines are short and engineers are thinly spread Bink is a great way to just get it done and move along.