The GPU used in an SGX530 which is an earlier generation of the GPU used in the iPhone 3 (SGX535). TI traditionally use their own IP blocks for video processing

The GPU used in an SGX530 which is an earlier generation of the GPU used in the iPhone 3 (SGX535). TI traditionally use their own IP blocks for video processing but this is absent in the AM335x, and the GPU lacks any dedicated video processing functions. You're probably looking at use CPU based codecs (ffmpeg) and 720p will be a reach I hazard to guess (but I don't know for sure).