We're using Encoding.com right now which works off the AWS infrastructure. We pre-paid and got our pricing down to $0.018 per megabyte. The drawback to this met

We're using Encoding.com right now which works off the AWS infrastructure. We pre-paid and got our pricing down to $0.018 per megabyte. The drawback to this method is that encoding charges you for MB in AND MB out, whereas Amazon and Zencoder are charging just by the minute of output. I'm pretty happy with Encoding.com but after running some test files through AWS, I have to seriously consider switching - AWS seems much faster (not a controlled test, more is needed) and in our case it's much easier to predict costs by going with a per minute model than a per MB in/out. An added bonus - boto already has support for it.