Thanks. I may have to resort to Windows, although it might be problematic since all of my Windows machines are too slow to do 1080p H.264, especially at those bitrates. Heh. My SLR can encode H.264 faster than some of my desktops can decode it.

Mind you, I don't really need to be able to play it real time. As long as the software can show the peak bitrates that's fine I suppose.
Anyone know of freeware/cheap Mac software that will show peak bitrates?