[Johan Lundqvist]
“What I want to achieve is an edited, rendered and good-looking movie that I’ll put on my NAS-drive and watch on the media player attached to my TV (currently WDTV Live).”
If you’re using a WDTV Live, you may be limted to 25 fps, regardless, unless you render at 720 50 fps. I live in NTSC land, and still use the older WDTV when traveling and it will NOT play media files rendered at 1080 60P, regardless of the bit rate. Depending upon viewing distance, the differences between 1080 and 720 will be negligible for a 50 inch TV.
As far as obtaining the best quality at the lowest bit rate, there seems to be a consensus that Handbrake which uses the x264 encoder is the rendering tool of choice. In most cases, simply accepting default settings will produce high quality renders with bit rates less than 10 Mbps. There is a script that can be installed which permits “one-click” operation, which I highly recommend. https://www.vegasvideo.de/vegas-2-handbrake-en It takes a bit of an effort to install, but once set up, works extremely well.
wwaag