Sorry to flutter the dovecotes perhaps, but wouldn't it be fairer to rename the test into 140k then, in stead of 128k?
Short test samples do not represent the average bitrate behavior of complete tracks of various genres in a media library. In my tests the overall average was 127.8 kbps. I think it is close enough.
Since this thread is huge and things can easily get lost in it I'll replicate my test results here (once again):
I finally had time to continue my bitrate tests with classsical music as I promised earlier in this thread (a thing called summer got in the way...)
After browsing through my lossless classical library I picked 25 "reference" tracks that should be quite representative. I avoided the extremely low and high lossless bitrates and tried to select tracks that have quite varied qualities.
Apparently iTunes has changed radically since my last test. Back then the 128 kbps VBR setting was suitable, but the 7.7 version uses bitrates in a more relaxed way and the 128 kbps VBR setting produces higher bitrates than before. Fortunately the 112 kbps VBR setting appears to be suitable for our test.
EDIT: As explained earlier in this thread, the fundamental difference in the bitrate behavior was found out to be caused by a bug in iTunes. However, the "iTunes 7.7" bitrates in my test are now assumed to be correct. Since my test Apple has released iTunes 8.0, but apparently its MP3 encoder has not changed. iTunes 7.7 and 8.0 create identical MP3 files.In addition, I retested the "various" bitrates with the latest encoder versions when applicable.
Since I didn't have the old iTunes version installed I couldn't test the "classical" bitrates with it (which would have been unnecessary anyway).
FhG, iTunes and LAME 3.97 have only one suitable VBR setting for this test so I'd suggest to calculate the average bitrate of these encoders and adjust the Helix and LAME 3.98 settings to match this average. Helix -V60 and LAME -V5.7 appear to be pretty close to this average with my test tracks.
Here are the new results:
Summary
Various - table and chart
Classical - table and chart

EDIT
I forgot to mention that if anyone wants to test FhG's bitrate behavior the bitrates must be measured correctly. Most programs don't show accurate bitrate values because FhG doesn't write Xing headers to VBR files.
I used EncSpot Pro's "full scan" option.