LOL
Many Blu Rays use MPEG Encoding and have worse quality then iTunes HD version (Groundhog Day is an example)
well yes, if it's a crappy quality encode, a high bitrate is meaningless, but all things being equal, higher bitrate is going to be better quality. There's obviously a point where there is little discernible difference after a certain bitrate, and you're just bloating the file size though. But I'd rather have a bloated high bitrate of a good encode, than a crappy quality lower bitrate that is easy downloadable.