QuoteThose compression ratios are JPEG's "Highest" and "High" Quality compression standards, so they should be clean from compression and motion artifacts ;-D Which only leaves line skipping and an 8bit color depth to worry about right?
Hardly, you will see more blocking from jpeg compared to h264, as jpeg lacks in-loop deblocking. You will likely see more motion artifacts from jpeg as it does no sort of motion compensation. It would be better if the h264 engine could be used in place of jpeg, but it's probably impossible due to the h264 encoder's fixed input sizes.