Steven Caesare
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I expect Recode and Redray are the same codec(possibly with modified bitstreams, but the same methodology), just with different applications of compression. There's only so much in-camera horsepower that you can apply to compression.
Redcode is a 35MBs (byte). RedRay is 10Mbs (bit).
That's an awfully significant difference in order to assume they are substantially the same.