I just subtracted the times in the picture. There's a screenshot of the actual time/method I used to find that latency. As far as the encode goes, my aim was the lowest latency possible, so it absolutely eats at my processor. The stream was encoded and sent to a virtual machine, pushed back, and played in an embedded video player (Flowplayer because JWPlayer wouldn't get past some built-in buffer) on a webpage from the web server that I have the virtual machine setup as. LAN, technically, though it wasn't even that.
