Encoding parameters in videos for web (low in size) while keeping quality good enough?

The forword looking video codecs to use would be ones that also work with HTML5 video . Currently this is.

Try setting the video bitrate parameter, you should not be manipulating the qscale unless you want same compression for all frames and this would give different bitrates for different videos(read as widely varying filesize for videos of the same duration). So,ideal bitrate would be 3 Mb/s for a 720X480 video(of moderate complexity) for wmv2.

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