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I would say AV1 is up and running as it is the only format I encode to these days and works very well. Note that AV1 is a codec that competes with x265 and can reside in an mp4, mkv, or webm container.
Not using GPU? have you used Fast Flix? I think it takes me an hour last time to do a 30 minute video then again I haven't played around with it as much as I'd like too.
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