Well, what VBR buys you is an economy of bits. If a particular frame is silent or not "complicated" then it can be rendered just fine in 32, 64, maybe 96 kbps. Frames with lots of stuff going on musically will be rendered more precisely with higher bitrates. 192 constant will be good quality, but why not use those bits where they're really needed?

VBR time display and fast forwarding issues will be fixed in 1.1, to my understanding. If I were to re-encode my collection (a distinct possibility) I would use a decent VBR setting.

-Tony
MkII #554