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Paul, from my limited understanding of the issue of bit rates, using higher bitrates than the default values will cause issues in DVD players. I don't know the why of this, but I have experienced it and it has been explained in this forum by others more knowledgeable than I.
On the 32 bit issue, (Others will jump in on this that know more), it can improve color but not necesarily on all projects. I believe it can also make the resulting mpeg less compatible later on on the DVD but I very well be mistaken on this point.
What I do know for certain is the rendering time is much greater with 32 bit. I have used it once or twice, but only on select projects. It did give the projects I used it on a richer look than 8 bit.
Try a a search for each of these topics. You will find TONS of info on the 32 bit thing, particularly in one thread in which the topic was broken down very well.
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