Actually, funny you should ask that as I just did a movie last night with those settings both on Single Pass and Two Pass for comparison. The movie was "Running Scared" it was 1 hr 58 mins long overall.
First Pass it was 1,394,924kb and took 58 mins to process
Two Pass it was 1,447,311kb and took 123 mins to procces, slightly more than double the first.
I then started up both movies in Quicktime and synced them so they ran side by side to see if I could detect the quality difference, have to say, it was difficult on the PC and I'm running a Dell 2407WFP digital running at 1920 x 1200. I have to say I was surprised, this will make it easier for me to go One Pass only in future.
It would be nice to hear from the authors to know what they would recommend as a good setting for both IPOD watching and transfer for to TV.