I encoded a somewhat simple song with --alt-preset fast standard and extreme, and --alt-preset standard and extreme
--alt-preset extreme - 220k
--alt-preset standard - 192k
--alt-preset fast extreme - 189k
--alt-preset fast standard - 180k
Quite a difference. It's too simple a track to look for audible differences, I just grabbed it since it's the only short WAV on my machine at the moment to see the bitrate differences.

I'm going to try a few tough to encode samples now, although all of my tougher samples musicwise are transparent at a higher bitrate. This has me curious.

Results later.