The pi can just about handle it with whatever default codec it uses:
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ffmpeg -re -i $path -b:v 1M -preset veryfast -c:a copy -strict -2 -flags +global_header -bsf:a aac_adtstoasc -f flv rtmp://a.rtmp.youtube.com/live2/stream-code
I've tried specifying using h264_v4l2m2m (and much higher quality)
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ffmpeg -re -i $path -s 1920x1080 -c:v h264_v4l2m2m -b:v 4.5M -flags +global_header -f flv rtmp://a.rtmp.youtube.com/live2/stream-code
Any ideas what I am doing wrong and how I can get this working?