I'd use mpeg-2.

EDIT: Wait. They want HD only but accept Quicktime DV codec? :p

Read this-

http://www.sonycreativesoftware.com/forums/ShowMessage.asp?ForumID=4&MessageID=906244

I would suggest MPEG2, but you'll have to change some default settings to get the bitrate required. Main profile, Main level has a bitrate constraint of 15 Mbps. If you select MPEG (rather than DVD) for output type, then select 4:2:2 profile and High level, you can output at the proper bitrate.

Each MPEG 2 profile and level have resolution and bitrate constraints that Vegas adheres to.

The other option in to use the MainConcept AVC/AAC to create a mp4 file that QT will see as h.264 encoded. You can then use Quicktime Pro to wrap in a .mov file without recompressing.

HALT - just saw the audio requirements. I would check with a live human to see if those specs are truly accurate. There are a few encoders (Telestream, perhaps) that will do PCM audio in mpeg wrapper, but I don't know of an h.264 encoder that will do PCM audio (not saying there isn't one). I personally doubt that the published specs are accurate.

atom12,

It looks like I can render an intermediate using QTPro and get PCM 48,000 audio...but I can't get the bitrates up to where they belong.

Any other ideas?

I forgot about the .mov container for h.264 accepting pcm. QT is so crippled on Windows I only use it in the way I described.

I still suggest speaking with a technical person to ask about audio specs. I received the same specs a year ago from a cable company and when I spoke to an engineer I was told, "We can take an h.264 with AAC audio."

I did just ask a friend who has Telestream Episode 6 encoder and it CAN do an h.264 mov and PCM audio. I can't figure out a way to do it with my tools (Vegas, After Effects, Adobe Media Encoder, QT Pro). h.264 in .mov wrapper limits video bitrate to low rates, straight h.264 encoding won't allow PCM audio.