The benefit of your preferred output is that you're rendering at a lower fps than ntsc, so that's a timesaver right there.  However, you are rendering to a slightly higher resolution (vs ntsc).

encoding for your target, I rec: 720 x 576 x 25fps x interlaced.  Use an mpeg2 or h.264 codec with a high bitrate probably @ 2700 kbps

Ideally, HD is best because it supports progressive display which, obviously, looks nicer and you don't have to worry about deinterlacing on the client-side.

ciao,
         G