[lordsmurf]

I don't know what 2.JPG is showing, but it's not video. That's some settings for grabbing stills from the video. I'm just guessing here. It's surely not video.

WinTV calls the average bitrate "Bit Rate" and it calls the maximum bitrate "Bit Rate Peak". But thinking back, you'll be capturing at 720x480 at 15,000k anyway, constant bitrate (CBR). You won't be using VBR and the other settings until you re-encode.

The re-encode is so that you can balance the detail of wrestling, with the noise that comes from MPEG encoding. By encoding in a second step, you allow for lower noise, and therefore better image quality.

I guess you could look at skipping the re-encode, but I would not, not with wrestling, not if quality matters.

I don't know if the color settings matter for viewing only, or for encoding/capture too. You can always make a few tests. Change the values (major changes, to easily see differences), and then capture several times at different settings. If the captured video files look the same, then it doesn't matter. If it changes, then it matters. Adjust to where it looks best. Remember that your computer monitor may not be properly calibrated for video, so tv testing can be important. View the various tests in something like VLC Player, and/or author and burn to a test disc played on a tv set.

Testing is so important when it comes to video.