xSonic521x
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I know it's been a long while and a lot of development changes have been made to the x265 format so in regards to performance I can't imagine it being too demanding given today's hardware and how far x265 has come in efficiency. You can read up more about it here and even test it for yourself. http://x265.org/
It's already supported as OBS just uses ffmpeg. Update your ffmpeg install to a version that supports x265, but it's ill-suited for streaming right now.