That is correct. Wiredrive doesn’t do any transcoding of uploaded media, rather it plays exactly what you put into it as-is. We wrote those settings with the idea that they would be create good looking video that will play well over the average internet connection (whether it be a bonded T3 or a Starbucks Wi-Fi) and not be massive in size.
For an even better breakdown of general settings, that are not application specific, check out:
https://www.wiredrive.com/customercare/archives/5028/