When Exporting a project from Adobe premiere Pro CS5.5 I use the format of Windows Media file and Preset HDTV 1080P 30 HighQuality. At the bottom of the window there are some options that say "Use Maximum Render Quality" And "Use Frame Blending". I used these two options on my first video I exported but I want to know for the future what both of these options do exactly to my film and if they could adversely effect things like lighting and the frame rate of a clip or anything?
Max Render Quality does what is says: gives better picture quality, but will lengthen the export process.
Frame Blending you check when output framerate differs from timeline framerate.
MRQ is most often used when downscaling from HD to SD.