Tim,
Thank you very much for taking the time to respond to my posting.
I always found it strange that in CS3 you would have to select a streaming preset in order to see the streaming options (hinting tracks, etc). The problem with CS4 is that they took away every streaming option except for the presets with WMV files. Even encoding using Sorenson will not allow you to set the encoder to optimize for streaming (you can see this if you try encoding in Sorenson and then click the codec properties).
I was hoping that I could open the old presets from CS3, which at first glance it appears that you can with the new AME (it has an option to open CS3 preset files if you try loading a preset). When I try to open any of my old CS3 presets though, I just get a generic error message that my presets are invalid (most likely because they were all streaming presets).
To compound the problem, the max bitrate setting in CS4 doesn’t work for H264 content using VBR. Even when you set the max bitrate, the final file can almost double the max bitrate for extended periods of time (which this is a confirmed bug by Adobe).
After many contacts with their support department, I have given up and re-installed CS3. Although the new features in Premiere CS4 are fantastic, I literally cannot do my job without being able to render out for a streaming server.
I hope that for the amount that I spent on CS4 I can use it at some point in the future.