Why would you use CBR encoding?
And why do you thing 3.7 Mbps is ridiculously low for 720p? I do encodes at CRF 21 (veryslow, film, lvl 3.1, 3 b-frames) at that resolution and most of them come out below 3 Mbps. They look fine on normal viewing.
Edit:
By the way, you certainly didn't encode with x264 using it's defaults. The defaults aren't main profile with both trellis and b-pyramid disabled. They would be slower though.
Last edited by nurbs; 13th January 2011 at 00:33.
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