I will have extra disc space with my current project and am wondering if I should do CBR at 8500 or do a VBR. I would assume the CBR would be better but the two pass factor of VBR makes me wonder if that might help improve rendering.
8500 is probably pushing it a bit for some DVD players. Use 8000 CBR and .AC3 audio. Two pass encoding is only so the encoder can figure out where to allocate bits for VBR and still maintain the requested average bitrate.
The only reason to use VBR is to save space. I always use CBR. More reliable, consistent, and a better image. I also use 8500 frequently without a problem.
With a satisfying result I use VBR but without limit so that the rendering process is only one pass.
I render to 1360 x 768 (which is native on our Plasmascreen and played through a media center PC)
The final results bit rates seem to vary from 5.000 to above 16.000 - but the highest bit rates are naturally only in use for small parts of the video (i think).