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This is what I think - you're trying to do too much at once.
Mastering karaoke stuff takes time. A person can spend more than just a quite a bit of time polishing up such skills. It's fun, but it can also test your patience.
Scene transition and stuff are not something fansubbers create on their own - for that, programs like Premier may outperform the softwares used by fansubbers.
Want to learn about codecs? This requires even more patience. Encoding video's takes time. And for each codec, there are numerous different settings you can play around with.
Video processing is not just about codecs though. Video filtering is completely separate subject. It's the art of how to maximize the compressibility while keeping as much details as possible. And there's also another art of how to diminish the video noise as much as possible without killing the details. And before you can go in to such art, there's the whole process of getting used to knowing what's good video and what's bad video.
Although I said they are "completely different subject(s)" above, video filtering and codec settings do go hand in hand. Of course, this is further complicating this whole challenge.
That's why DOOM9 and the forum goers there share their knowledge so openly to assist others on their endeavors.
What should you do really? Start reading. And when you start getting the hang of what needs to be done, start experimenting. Be ready to spend countless of days on it.
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