What's the actual video format? I mean, my knowledge is a bit dated, but don't codecs like x264 usually have I B and P frames so you couldn't cut at an arbitrary frame without reencoding. Do you just emit I frames or does x264 have some more advanced tricks available?
It's not just I (key) frames. That would be really bad for quality or data rate. There's an I frame every 1 second, which gives me a place to cut. In general, not just for RetroClip, having I frames is important as it will allow for efficient scrubbing through the video in a playback application.