I know what they stand for, but what exactly are the differences between constant bitrate and constant quality?????
CBR - Calculated Birate Rate means that it will run at the same bitrate every second like 1150kb/s so this could be too much quality for one scene or a lot less for another. CQ - Constant Quality basically is VBR but this time the encoder will only use the appropriate birate for a scene so the quality is much better!!