Hardware / Software Encoders for live video streaming - strategy?


Question: What are the advantages of a Hardware encoder over a Software encoder (and vice versa)? What sort of things should a company be looking for when considering and comparing encoding solutions? We use a content delivery network / Windows Media Streaming server so obviously any solution we consider must be compatiable with our existing infrastructure. what other things should we be looking for? Links / Advice much appreciated.

Answer:
I'm confused
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