Texture conversion will work on any opaque MMAL buffer, i.e. camera preview (up to 2000x2000 resolution), video. However, in the sample code is only for GL plumbing to preview still images. I think someone posted the patch on RPI forums to make it work with RaspiVid so you can use it.
Fastpath basically means not copying buffer data to ARM memory and doing software conversion. Thus, for GL rendering, this simply means passing the GL descriptor, so the GPU driver can do this directly.
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