An interesting webcast with Scott Wilkinson and David Mackenzie, video calibrator and compressionist
http://www.avsforum.com/forum/138-avs-forum-podcasts/2099754-all-about-video-compression.html
A few points I personally found very interesting / funny:
The digital masters are 2TB or larger, then compressed to 50GB or less for Blu-Ray. Gives me more reason to retain my highly compressed Blu-Ray rips just as they are.
Digital masters are 10 bit, then reduced to 8 bit, with grain actually helping hide dithering effects from the reduction.
David uses LCDs in "torch mode" to enhance artifacts that would be hidden with a "properly calbrated" screen when checking his work.
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One other item I found interesting: moving the image one or two pixels so as not to combine a pillar box with the image in a macroblock which is easier for encoding even if this means the image is not centered.
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