AMS does not do any transcoding of streams
Well.. maybe transcoding is the wrong term here (my wrong), but actually I'm looking for a solution that does what I explained:
Send one stream from encoder to the media-server and let the media servers deliver streams in multiple qualities (with several lower bandwidths).
At east that is what I think what it is saying here: http://www.adobe.com/content/dam/Adobe/en/products/ams/pdfs/ams5-intro-wp.pdf
page 3: by 'Live stream splitting' and 'Live adaptive bitrate streaming (HTTP)'.
It's a bit daft to let the encoder to send multiple streams as the that's something the server could easily do (and seems to make more sense to me), similar to other solutions like Livestream.com or youtube live.
I do understand that requires much more compute power but that's actually not really an issue in my solution (got that virtually unlimited). But the bandwidth on the encoder side can be limited at some locations during the worldtour I need this video streaming for hence the solution I'm looking for.