Start with the Blu ray presets in AME. It is really very difficult to sugest specific settings when discussing encoding because each video piece may require something different other than just setting bitrate for the length of the program.
YOur best workflow will be starting with the presets, as they are fairly good, and then tweaking your bitrate and other parameters to obtain the optimal encoded image. Remember you re balancing between quality and length of encode and that once you hit a certain threshold very small improvements in image quality can add an extraordinary amount of time to the processing.
Start with a small chunk to test your settings and you can then calculate an approximate time at specific settings.
"Think of everything in terms of building capacity."