Note bene: I realize this is an immensely complicated question with about a million levels of nuance that I\'m trying to reduce to a single number...
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Just sharing my knowledge over encoding with H264 environment
As for the ratio 450-512 kbits/second is best if you use H264 with High 5.0 or High 7.0. Well i can suggest you that to get a good ratio in balance with the best quality , the key that really matters to it is to play with the Resolution size. Result of Video Resoltion = 3/4 * Native's / Raw Video's Resolution
H264 tends to loose details more if you don't compress the frame into a little bit of smaller resolution.