Is a GENLOCK still useful in today's world?

[Ohforf]

A Question :
Do you know any good Software (open Source for Linux)
to play Video and overlay Text and Graphics in Realtime ?
I really need this and cant use Amiga & Genlock for that Project
- simply because they are not mass-produced anymore
and way too slow for (Software)MPEG decoding.
I have to run all this from a small, embedded System.

[Ohforf]

Thanks. I hope my Question was not offtopic.
If i understood correctly, overlay of Text and Graphics
is a simple Application for a Genlock.
A new Solution must be somewhere.

[Ohforf]

I think i know Blender, but i dont think its good for
Realtime Overlay. The only Realtime thing in Blender is
the Game Engine Thingy.