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That said, I've also had no issues at all with the RX 480's encoder, I just wanted to see if it was possible.
I'm not prepared to shell out for an Nvidia 1060 to be used with an i7 920 as it doesn't seem to be a great value for money upgrade. I'd sooner just get something with an intel gpu and quicksync tbh.
Although like you said, upgrading CPU makes more sense. Maybe an used Haswell set? That way you can reuse DDR3 rams.
730 Specification: http://www.geforce.com/hardware/desktop-gpus/geforce-gt-730/specifications
750 Specification: http://www.geforce.com/hardware/desktop-gpus/geforce-gtx-750/specifications
Notice that under supported technologies, 750 has Nvidia GameStream (which uses NVENC) but none of the 730 variant has it.
Also this post in OBS Studio forum suggests only the GTX lineup has NVENC,
https://obsproject.com/forum/threads/cheapest-nvenc-video-card.51786/
There were actually three different GPUs used in GT 730 cards, one of which was Fermi. (GK-301-A1, GK-400-A1, and GF-108).
When just directly on the host, the game runs at around 60fps at medium settings @1080p in dx12. Trying either the AMD or software encoding to the steam link causes a stuttery mess of about 30fps with the regular appearance of slow encode message. Running the game in dx11 and with software encoding means slightly worse performance on the host, but a playable at least experience and a smoother stream. The AMD encoding is still a no go though 😞.
I've taken a gamble on a GT710 as was only £15 delivered, hopefully this will provide the 60fps streaming experience. If not, then it's a long HDMI cable for now. I'll post the results when it arrives.
It would be great if Steam could provide a bit more clarification as to what is required for a GPU to provide hardware encoding to ensure optimal steam link performance, the current blurb of "Nvidia 650 and above", isn't that clear as evidently some of the GT730 GPUs wouldn't.