OBS Core Configuration Mastery Hub: The Industry Foundation

When configuring the "Advanced" encoder settings in OBS Studio for optimal streaming performance, which of the following parameters offers the most granular control over the trade-off between visual quality and bitrate, and is generally preferred by experienced streamers for fine-tuning?

In OBS Studio, understanding the implications of different "Output Mode" selections is crucial for advanced configuration. If a user intends to stream to a platform that requires specific audio channel configurations (e.g., 5.1 surround sound), which output mode would provide the necessary flexibility to manage multiple audio tracks and their routing independently of video?

For a professional esports broadcast utilizing OBS Studio, what is the primary benefit of employing a "NVENC H.264 (New)" encoder over a "x264" encoder when streaming at high resolutions (e.g., 1440p) and frame rates (e.g., 120fps) on a system with a compatible NVIDIA GPU?