As mentioned in #703, now that we have great video transcoding support for non-web-playable formats, it would be nice to also have the ability to transcode at a selectable quality for all files.

At the moment some mp4s in my library, while technically playable by the browser, are at too high a bitrate to be stream-able over a mobile connection and require significant buffering, even over wifi sometimes. The solution for this could be at three levels, depending on how important it is deemed:

1. Have a sane max-bitrate for any video, and transcode if it exceeds that
   This could be hopefully fairly straightforward to implement, and would still allow you to download the original file if required

2. In addition, have a UI option which lets you select the quality you wish to stream at
   This would be a great next step to help out when on very low bandwidth connections, as you could manually set it and your choice would be remembered for the next video

3. Automatically determine the available bandwidth and switch streams as needed
   This is a nice to have, but honestly not super important