I love the concept of this new codec, but two things would be advantageous to us poor users:
1) The codec has support for acceleration on video cards. Ok, lets take that one step further and have the option of encoding on the videocard as well. It will take forever to re-encode my clips at this rate.
2) A batch converter. Livid offers a Batch Export Utility to the users. Since there are no settings to set in this new codec, it should be a simple thing for someone (perhaps an external developer) to code a direct conversion tool.
*EDIT* The batch converter works for me