We run compressor at 6.3 mbps CBR for pretty much everything. We use Bitvice exclusively for situations where we have to put more than 2 hours of video on a DVD and it needs that extra special handling. But the fact that compressor is a one-stop shop for the MPEG and AC3 is a real timesaver. For most of what we encode it is fine. If you are encoding live bands with lots of swishing lights and movement I can see Bitvice being valuable. For most industrials I think compressor would be enough.
Bit Vice is a capable encoder that could use a workflow and interface upgrade.
Tilt Media Inc.
Video Production and Post