tmpeg2.59 svcd 110min on 74min CD did you try it?

Yes, and it's not worth it
It uses 2-pass VBR and the quality it produces is way below CQ or CQ_VBR.

EDIT: He He and I see TMPEG using a GOP with 25 P frames for that Wizard. Wonder what they've been reading
The thing is that a long GOP will not work very good with the standard Q. Matrix. So let's keep an eye on newer versions of TMPEG, and see if they come up with a new Q. matrix. Then we'll know for sure what site they've been visiting

-kwag