Horses for courses. It really depends on what you want to do.
For me, I typically use FS to FS from the Vegas timeline to a flash encoder such as ON2's Flix Pro. Saves a step of rendering out an AVI file and then opening that in Flix Pro.
Tom
I prefer TMPEGEnc as well -- far more options, including quality-based encoding and true 2-pass VBR. Only trick is setting that switch that doesn't compress the range from 0-255 to 16-235.