Just to reiterate a point that has been made before: "lossless" means that when decoding a data stream you gets the exact same bits as you got before compressing. Zip files use lossless compression, for example. Unless using very specific settings as Robert said, H.264 is *not* lossless - what Anders is saying,"compressed with no loss in quality", is called "visually lossless". Best example of this is JPEG - with some samples you can go down to 4 out of 12 (Adobe's photoshop quality levels are odd) and still be "visually lossless", even though in another sample that setting would destroy fine details essential for later effects work or upscaling and probably not be visually lossless. No matter how high you turn up the bitrate, a lossy algorithm cannot be called lossless, even if it appears to be lossless.
Bruce W
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