It definitely depends on your market. I’m dealing with a daily 28:30min show. While I would hate to think of YouTube being any kinds of standard for online video quality, again, most encoders will get by if you keep your bandwidths that high. Then I have to ask myself, what is compression? It’s the art of maximizing quality at the smallest acceptable file size.
back to the original discussion, multpass makes all the difference in encoding by the very nature of what it is. Checking the video and it’s content before it actually encodes. How can a computer know what data to throw out unless it has seen the footage at least once. Matrox doesn’t do this neither does Elgato and that is why you wont see it used in serious web encoding applications.