I have been working with 720p 60fps video (FAST Mode) from the VIRB Elite.
I have noticed once video is exported to a file using the 720p setting in VIRB Edit there is definitely a degrading in the video quality, far more mpeg blockiness.
Looking at inspector ...
Original MP4 video is 1280x720, 59.94 FPS and Data Rate 18.05 Mbit/s
Exported VIRB video is 1280x720, 59 FPS and Data Rate 9.51 Mbit/s
So that halving of the data rate creates smaller file sizes but quality does suffer a bit which is noticeable at full screen.
If I use the 720p 30fps video (ECON Mode) then imported video and exported video are about the same 10 Mbit/s.
Will there be the option to adjust quality settings on VIRB Edit export in future versions i.e. export at full quality (same is import settings), or drop the frame rate on export 30fps?
Working with 720 mp4 video for some time I have seen best results with 60fps around the 20Mbit/s mark and 30fps around the 10Mbit/s mark.
PS using latest version VIRB Edit 2.2.1 on Mac OSX 10.9