With that much video you’ll need a CBR setting of around 6.5 mb/s for a single layer disc. Stay away from Compressor single pass VBR – it just plain sucks. Theres no analysis pass so its useless really
Truthfully Compressor is a really crappy encoder if you compare it to many available – both cheap and expensive. It falls apart at lower bitrates and its VBR settings invite tons of bitrate spikes.
Pros of CBR – the highest bitrate setting across the entire stream
Cons – limited on amount of space and unable to bump your rate if needed in those areas you really need it.
Not sure what your budget is but if it were me, I’d buy Bitvice and throw compressor in the trash 🙂