I have been trying the 1.7 release and each version speeds up the encode.
From my own tests, the x265 encode at medium is faster than the x264 encodes while giving a file size that is 50% smaller.. All this is subjective ofcourse.. But it does look like the developers are doing a great job and maybe the experiences from the x264 project helps them a bit here..
It took much longer for updates to come out with x264 to show similar achievements and although it is missing functionalities of the x264 encoder, it now has pretty much everything to go head to head with the older codec.
I was skeptical at first but cant beat the speed and quality increases the new x265 brings to the table. As it took almost a decade for x264 to mature, we can start seeing wide spread use far sooner here as the gains are substantial.
x265 Encoder 1.5.454
31 March 2015, reviewed by: