yes, you are correct. Sorry if I confused you.
The bottom shows
Video
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Size: should be 320x240 probably
Bitrate: This is the one that you vary with the "Video Quality" slider
Audio
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Frequency:
Mono/Stereo
Sampling rate in kbps
I usually set the Audio to 44.1kHz, mono, 64 kbps. Then I move the video slider that adjusts the bitrate to a size that I can fit on a 256MB card, but I try to stay with a bitrate around 200.
nelj