I do it whenever I’m on the road. You’ll need an external firewire drive for media storage. I have one that I put together using an enclosure built by firewiredepot.com and a Hitachi Travelstar 7200 rpm drive. It’s small and fits in my computer bag, and it’s bus powered. I use a small mouse, and the built-in keyboard is just fine for me. I use i-Pod headphones for monitoring. The idea for me is to fit everything I need into my one computer bag. I can work anywhere with this set-up.
In my case, the 2-pass setting is definitely bad, not only the quality, but the file sizes come out larger than if I use single pass with the same settings. I tested Bit Vice and it is much better. Download their demo and see for yourself.
I had a similar issue with BorisFX and FCP. Sorry, but I can’t remember exactly what I did to remedy the problem, but I did. I would suggest doing a search in Spotlight for eveything Boris, and then deleting all the files; then re-installing.