Transcode Profile for AppleTV3 ?

Hello, newbie here, my first post, so please excuse any ignorance regarding Serviio.

Am in process of reading various FAQ's and postings regarding setting up Serviio etc, but just have some 'is this even possible with Serviio type questions" that I was hoping the users here might answer.

I have just setup WHS 2011 box, and mainly record onto a Mediacenter 7 system, so most of my TV recordings are .wtv format.
In my country of New Zealand, we have 2 flavours of Freeview, and one is Terrestrial HD (H264 with stereo, and AC3, and AAC track), and the other Satellite SD (Mpeg2 with stereo)

I would like to use an iPad DLNA/UPNP app to send the AV to my AppleTV 3 using AirPlay and end up with mp4 with DD 5.1.
Is the above possible?

Messing around with Handbrake, I was able to encode the video into mp4 that AppleTV 3 could play, but this entailed serious encoding time.

I have VideoReDo, and it seems to be able to convert the h264 wtv files quite rapidly to h264 mp4, but it retains the original video bitrate, which is too high for AppleTV 3, so when I play the file via Airplay, I only end up with DD 5.1 audio, and no video.

I tried out XBMC, but the NZ Freeview HD recordings (h264 with AC3) are not recognised by XBMC correctly, and only have the Stereo audio track available.

Then I tried out AirVideo iApp with the wtv (h264 and AC3) and it also only live transcodes in stereo.
(tho if I encode the video in Handbrake, I can make it playable thru AirVideo with AC3 to AppleTV3 as an mp4)

So, my hope is that Serviio can on the fly transcode to an mp4 with AC3 sound suitable for AppleTV3?

Any advice/help in this regard would be appreciated.
Thankyou very much for your time, was nice sharing the same screenery with you.

..Dean..

[zip]

So, my hope is that Serviio can on the fly transcode to an mp4 with AC3 sound suitable for AppleTV3?

You can't transcode to mp4 on-the-fly, the container doesn't support that. If remuxing leaves the bitrate too high (which is weird the device cannot play it), you'll have to reencode the videos beforehand, or install XBMC on the device.