Transcoding to tablet and smartphones question

Hi there,
Can anyone tell me if on the fly transcoding to tablets and smartphones specifically to reduce the bitrate and resolution will actually speed up play back on those devices for HD 1080\720p movies? Would I also need to increase the buffer size on the devices to assist in smoother playback?
(Assuming i have a good server with i7 quad core 3.2Ghz, and the tablet\phones are all dual core 1 to 1.5Ghz capable of playing back 720 or 1080p files if stored locally.)
If yes on the fly transocding will speed up play back can someone help me to edit the profiles.xml xbox 360 profile to limit the bitrate to 2440 and maxHeight 720?
I have tried doing it myself but when i look at the ffmpeg process it shows it still running at 15000 bitrate and no height restriction as the default xbox 360 settings, like it is ignoring the profiles.xml file or using default internal values or something?
Can anyone tell me if on the fly transcoding to tablets and smartphones specifically to reduce the bitrate and resolution will actually speed up play back on those devices for HD 1080\720p movies? Would I also need to increase the buffer size on the devices to assist in smoother playback?
(Assuming i have a good server with i7 quad core 3.2Ghz, and the tablet\phones are all dual core 1 to 1.5Ghz capable of playing back 720 or 1080p files if stored locally.)
If yes on the fly transocding will speed up play back can someone help me to edit the profiles.xml xbox 360 profile to limit the bitrate to 2440 and maxHeight 720?
I have tried doing it myself but when i look at the ffmpeg process it shows it still running at 15000 bitrate and no height restriction as the default xbox 360 settings, like it is ignoring the profiles.xml file or using default internal values or something?