If you're authoring for PS3, it's fairly robust in what it can handle. I've used 1080p with --level 4.1 --crf 19 --keyint 1000 --ref 4 --mixed-refs --b-frames 6 --b-adapt 2 --b-pyramid and had no issues before. SAPs are the only thing you really have to be careful of.
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You can't call your encoding speed slow until you start measuring in seconds per frame.
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