Hi Adam, Watchout systems love MPEG-2 files, encoded with a GOP setting of 1 (you can achieve this with AME by setting Keyframe Distance to 1). A bitrate of 5MBPS to 10 MBPS should do the trick BUT it all depends on the playback machine.
For live events, it's always a good idea to ask for a sample file from the vendor so that you can view its innards. PPro allows you to view decent pieces of info such as the file's bitrate.
Further, it is best to split the file into smaller chunks - perhaps 2 equal sizes. You may want to check with Walter, who's very good with Dataton's Watchout systems. You can also find Walter at the COW's Live Events forum.
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