Great shout! How is this effort coming along? It is a great initiative to get the filesize down, but hard to justify doing it to save disk, since I want to keep the original file on disk to seed. Would it be possible to maybe start a second share with a complete H.265 mirror? I would be willing to (atleast attempt) help out with converting the library if needed.
If you want smaller videos then it is simpler to download already encoded videos with more modern codecs directly from youtube. They will be always there, so no reason to keep another copy.
For example, with yt-dlp -F https://www.youtube.com/watch?v=Ee3EtYb8d1o you can see available formats for day 1 video:
137 mp4 1920x1080 30 │ 127.88MiB 242k https │ avc1.640028 242k video only 1080p, mp4_dash 248 webm 1920x1080 30 │ 205.57MiB 389k https │ vp9 389k video only 1080p, webm_dash 399 mp4 1920x1080 30 │ 130.33MiB 247k https │ av01.0.08M.08 247k video only 1080p, mp4_dash