Didnt realize that wizard that opened w/ TMPGEnc was it. Unfortunatly, though, it restricts what you can change in your settings, though. I'm just gonna trust whats there now and give it a try.
As for whether or not it's doing it in the source file, I'm not sure. I exported in Huffyuv to keep the quality of the video at it's highest, and it really isnt playable (christ that thing is huge!) Thank god for a 60 GB HD!