Plex Server to MPEG2?

G'day,

I've been considering the move to Plex for my home network... but have just recently acquired Apple's "G4 Cube", which I'm hoping to use as a HTPC. Yes, I know - it's 16 years old...! But it has a 1.5GHz PPC upgrade card, and a Nvidia GeForce2 MX video card, and can handle MPEG2 files perfectly... However MP4 is pretty laggy...

Then I thought about Plex, and how Plex Server can do the encoding for the client machine...

Anyone have any ideas if this is possible? What settings I should try? (Total newbie to Plex here, but capable enough computer user...)

Thanks,

cosmic