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No clue about Vegas (i use DaVinci resolve) but back in my day, when I needed the very best optimised for web mp4 file, Id upload the video to YouTube (as a private and unlisted unpublished video) and let YouTube process it for me. Then, Id simply download the YouTube optimised version from within the admin section and delete the version stored at YouTube.
that way I knew I always got the best optimized best quality version cause Pootube used the cutting edge latest compression algorithms...
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