Nick Depends - how are you playing it? Most of the time there is never one "best" preset/setting, but more of a compromise between different factors (size, bitrate, time to encode, etc).
Nick Well, if you're going to burn it to a DVD you could just export it using one of the "Best Quality, Fast encode" presets (at 640x480 for 4:3 video).
caliber Thanks a lot. Also for the slow encode muli pass option. How many passes are there, I was hoping for a 2 pass but when I woke up and saw that there was 3 and still going, I canceled because I was hoping its not 12 passes
Nick If you've got a lot of disk space, then you could use the ProRes presets (if they're available to you), or the Apple Intermediate Codec - as they will export super fast, but create very large files.