In response to Brian Higgins... there is no DPI for video, only pixels
Concerning H.264, no matter what the compression settings or the container the format is compressed. No way round it. In almost every case h.264 is NOT suitable for a digital intermediate but suitable for a delivery format.
The format may be up to 14 bit color and may have very minimal compression artifacts but the format is still highly compressed except for the Hi444PP format definitely not lossless. If a client is asking for lossless h.264 then you must make sure they specify everything. Just jumping into the AME and grabbing the highest bit rate you can won't do the job. Also you must consider that the more exotic the compression scheme the fewer devices and softwares are availble to decompress it for playback or production.
Wikipedia has a nice run down of the format and many white papers are available on line.
IMHO h.264 is NOT generally suitable for a digital intermediate in a production pipeline but that does not mean people are not using it and using it incorrectly. There are certainly more opportunities to use h.264 incorrectly than correctly as a production format.
In the end you need to supply what the client asks for, but if the client is asking for something that does not exist or does not fit their intended use, it is you duty as a vendor to explain to them the limitations and offer a solution that will meet their needs. If you do that your E&O insurance provider will be happy with you and you rates won't go up because you will not keep getting sued for failure to deliver. Even if client specifies a delivery product does not meet all of their stated needs, if you supply that product to them and it does not meet intended use you are liable for damages.... It's that way in highway and bridge construction and it's that way in video production. You are hired as an expert and you are expected to know.