THANK YOU SOOOO VERY MUCH!
I took the stuff you showed above, and saved to the presets for AVCHD and Vimeo HD. The file size was ONE THIRD of the original, and THIS ONE includes an HD button. The quality is ALMOST as good as the original raw .mp4. Here is the CORRECTED video (the difference is clear - Make sure you click on the "HD" Button to watch in HD mode):
[vimeo]45968877[/vimeo]
I also suspect that if I'll use the youtube presets, rather than direct upload to youtube, I'll get a better product also (when there are no music issues).
While a little off topic, this thread has REALLLLLY helped me to understand the correct/best settings for getting GoPro HD video and Premier edits into something that looks good on the web. AWESOME THANK YOU AGAIN!
P.S.
CAN YOU ALSO lend your knowledge and tell me what the best settings to burn to DVD are?