Interesting. The One Pass VBR greys out when CCE Basic is chosen (which is what I have), and it is very easy to overlook.
Well, tjazz also has CCE Basic, so the Runtime Error 7 wouldn't be the result of the OPV option, would it? Any other ideas before recommending a fresh install?
I beleive I have received the runtime error when the working directory isn't right. Sometimes I'll reset rebuilder or change the pathways when processing multiple movies. Make sure the the working path doesn't have D2VAVS in it. Make sure the working folder indicated actually has the D2VAVS folder in it or reset everything and start from scratch.