Hey Dave,
It does seem a bit whimsical for them to never bump it up after that long. Maybe understandable a few years ago, but now with everything HD and people using it more and more, they should at least allow a max of 30Mbit.
I did run three tests with burning Blu-Rays. One was burnt with me rendering it as an MP4 (under Sony AVC), but I was still figuring the settings out and didn’t use a Blu template which made Architect render the entire thing over again. Then I did one with Mpeg2 quality at 25Mbit, then just an AVC stream at 20Mbit with the separate audio. I have to say that the 20Mbit avc stream definitely beats Mpeg2. I find the best results it to watch them being played via Blu on a TV, and it was pretty good looking. I would feel comfortable at 25, but as you say, if a 20Mbit AVC looks as good as a 40Mbit Mpeg2 then I guess we should be pretty content.
I do find it annoying that the big editor (Vegas) is limited to 20Mbit while Architect could take the videos and make them up to 40Mbit. Very strange way of doing things.