It really depends on how many clients you plan to serve and what video formats, tbh. Plex reccommends 2.0Ghz Core2Duo for a single 720p transcoded stream, and 2.4Ghz for a single 1080p transcoded stream.
The thing with old formats is that while some of the older codecs might not be SSE3 optimized, you're normally dealing with smaller resolutions, so it's not that intensive.
Now, if you're going to have a lot of simultaneous clients, there's an octa-core board for an extra $90:
http://www.newegg.com/Product/Produc...82E16813157475
Supposedly, the C2550 can do up to 2 1080p transcoded streams no sweat, while the octa-core C2750 can do up to 4 1080p transcoded streams without a problem. This is what I gathered from here:
http://forums.openmediavault.org/ind...2nd-NAS-build/