I think I see what it is... the MAXBITRATE value is very small and it is hitting it too easily. Interestingly it also seems to be getting smaller with each pass, too... there has to be a bug on my end. HC is only doing what it is told to do.
I fixed it for the next release. It was an odd little glitch -- interesting that it had never shown itself before, as that code has been there for a long time.
--------------------- The most effective way to hide the truth is to make those that see it appear as fools.