You aren't going to see much difference, certainly not enough to justify the extra PC time. However, if you are rendering overnight, who cares? I still like the Main Concept double pass encode though.
I'm also getting nice results with the Matrox hardware capture alternative, less aliasing than the product made by that overpriced Canopus RES 100's Media Cruise real time MPEG2 capture option.
Vegas is still the best tool I have for making WMV version 9 files though.
Best uses a different algorithm for creating the "tween" frames when rendering track motion, keyframes, etc. You can sometimes get better results if you animate your still photos. If you don't do this, just keep it set to good. Best takes a lot more time, and provides no benefit at all for scene transitions and video fX.