I'm experiencing something strange.
My iPad's Channels app has "original" for both home streaming and internet streaming.
But when I'm outside the home, the streaming is very slow, even with sufficient bandwidth.
When I have my iPad VPN into my home, then the streaming speed drastically improves, without any pauses for caching.
I'm guessing the server imposes transcoding when the client is connected via the internet, regardless of the streaming quality setting on the client side. My understanding is the Plex server does exactly this - that's why I always VPN into home to play something on Plex from outside home.
Any other explanation?