OBE uses x264. That's an Open Source variant of H.264, right?
Yes x264 is a standards compliant implementation of MPEG-4/AVC aka. H.264. There is much confusion between x264 and H.264 but x264 streams are compatible with the billions of playback devices out there.
Do you support MPEG-2?
Like many proprietary vendors we are working on retrofitting MPEG-2 support to the x264 encoder. This is being trialled by various broadcasters. There is a lot of work to be done before it is complete. See the x262 project for more details.