[Charlie Kosheff] “Is there any added benefit to using Compressor if I am not doing any deinterlacing, resizing, etc? “
Speed.
If you have Qmaster set up properly on your system, i.e. as a virtual cluster, Compressor will make much greater use of all available cores on your system than Quicktime Pro. For longer transcoding jobs, this can make a big difference.
When you submit jobs to the virtual cluster in Compressor, it cuts up your source file into multiple segments so that each available CPU core in the cluster can process the separate pieces simultaneously and in parallel. Once all of the pieces are transcoded, Compressor reassembles them into a single output file. This all happens transparently in the background. All you really need to know is that this can really speed up transcoding and compression tasks.