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Can you suggest a good mpeg2 codec?

When I exported some videos from Mercalli Stabilizer stand alone version recently, I noticed if I choose ATI Avivo mpeg 2 codec from the list, the export is quite fast, and gives similar results as if I would be using WAV progressive, but the file is much smaller yet has good quality. The problem is the codec only allows setting 20 Mbps as max bitrate. Can you suggest a similar codec that allows more, up to 28 at least? The advantage of this codec is that it is fast, and the opuput file has similar size as the input H.264 mp4 from my camcorder. And the quality is just almost as good as the original, however I guess because of the 20 Mbps, it is a bit lower.

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