I've seen some impressive encoding test using H.264 but the export option from QT7 won't do two fundamental things for playback on a computer: crop and de-interlace. Are there any other encoder options that can do these for the Mac and or PC? Cleaner just seems to use QT's settings.
I haven't actually tried this properly, but it appears Compressor 2 can de-interlace and crop whilst converting to H.264. A quick test seemed to show it processing, but it was predicting an obscene amount of time for the batch to go through. Probably down to the 867 G4 i did the test on though.