I have a GTx 970, I know the nvidia encoder isn't avail to me yet, was just curious if I should; be using x264 or (use stream encoder) only other option is the AMD one.
For streaming x264 will produce the best video quality. But it will also use your CPU power of course.
x264 is producing the best video quality from all the encoders with the bitrate you will give it.
For local recordings you can just up the bitrate. When streaming you're limited so it's important to have high efficiency here.
The Order of the encoders (bitrate necessary for decent quality) is like this.
Needs the lowest bitrate x264 > Intel Quick Sync > NVENC > AMD VCE Needs the highest bitrate
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