Nick, the thing about comparing the native against the transcoded files is not at the start of process but at the end.
You would want to grade, composite, add graphics to a native version and compare the same process to the transcoded version. My guess would be there will be a world of difference.
Watched the House episode last night and totally see why they used it, since I’m not a House fan at all I also watched a normal episode. The entire discussion has be really good and talked about in so many places but the nice thing is from the people that did it there is a level headedness about it all, no, we are dumping film, RED is dead, type of things. Just we saw this tool and we thought it could do what we wanted it to do. And it did.
The other interesting thing is that it did not save them money, cost was the same.