Update: A translated Install Guide is now available.
Today rickylyh let us know Fixstars Corporation of Japan has released a free 14-day trial of CodecSys CE-10, an H.264 Software Encoder for use with Sony's PlayStation 3.
It was first announced a few months ago, and although Fixstars' English Site doesn't have the trial available yet it is expected sometime this month.
A novel transcoding tool Fixstars (PDF) allows for the conversion of video material on the Full HD format, with the help of a PlayStation 3 in real time, is coming in June 2009.
To quote, roughly translated: The conversion of video footage in Full HD movies at a resolution of 1920 x 1080 provides current desktop CPUs with a lengthy task. This allows the transcoding of a movie...
Here's another way to harness the power of the PS3's Cell chip, to quote:
Fixstars Corporation of Japan has announced CodecSys CE-10, the first H.264 encoder that's designed specifically for the PS3. The product will be showcased at the National Association of Broadcasters show in Las Vegas starting April 20th.