Keebler said:
From the tests I ran, yup...BV is better.
I couldn't believe the difference in colour (BV's were much deeper and richer).
That's my experience too, although I'm not sure I'd call it deeper and richer, more like simply darker. In any case, I'm not sure I would call that a benefit because in my hands Bitvice causes brightness shifts from the original DV source whereas Compressor's MPEG2 output is nearly an exact match for the original. Personally, I'd prefer that the output looks as much like the input as possible. If I want a darker image I'll adjust the video in my FCP sequence, I don't expect the MPEG2 compressor to change my video for me.
However, I'm using NTSC sources and output so maybe you'll see different results with PAL. Also, since I'm using Apple's MPEG2 Playback component to view the finished results I guess that Apple's Compressor has a potential advantage because they are handling both the encode (to MPEG2) and the decode for playback.
In any case, Bitvice is a good product, they have a demo that you can download so it's worth a look to see if you prefer their output.