The 8120 is $149 at ncix, a 3570k is ~$200, 3770k is ~$320. An intel solution would be ~$400 minimum for board and cpu. This
8120 & msi gd65 bundle for $275, looks pretty good to me for an encoding box.
If your encoding software can take advantage of 8 threads, then an
overclocked 8120 will provide the best value with your budget. Keep in mind that power consumption goes up a bit when overclocking the BD chips.
8 Bulldozer threads at 4.5 ghz will be
roughly comparable to an older, non-overclocked, 6 core intel chip (i7-970, E5645 xeon) when using all threads. Maybe even slightly beat it in some tests.