Yes. CBR should be restricted to 7 Mbps for burned discs.
I presume you exported directly from FCP timeline to Compressor. No, the quality would not be better than your current encode. But, and this brings us to question number 3.
No. You should edit your film in HD and then export either a QT movie or a QT reference movie (depending on your project's special effects, filters etc). Then bring it into Compressor for downconversion, and then bring the
downconverted movie to Compressor and encode to MPEG2.
Alex Asp/Solaris Digital Ltd.
Subtitle utilities
HERE
Anti-aliasing for Highlights:
HERE