OK. So lets separate the fact from the opinion. Yes Wirecast does have its own encoder as Joe says. But Vidblaster, and Vmix, whilst natively supporting FMLE can use ANY encoder. Including Wirecast, or FFMPEG which are both x.264 solutions. When there are critisicms of the encoding on both VB and VMix, the author is really criticizing Adobe.
VB will allow you to record in multiple formats. If you want .wmv for example it is there in v2 builds. Understand that the current build supports MPEG recording only AT THIS STAGE, but as with other functionality the developer has indicated that there are intentions to expand the codec support. It is quite a common practice to offload the recording to another machine (irrespective of whether you use Wirecast or VB or any other switching software) so this part of the debate is somewhat irrelevant.
All of the Switchers are very different products. You will find things that you like in each and things you don't like. For me I like the intuitive nature of VB and for broadcasting Sports I find it the best switching solution of all of the products I have tried. Can you broadcast sports with other switchers? Of course, but for me, and I stress me, VB works. I love vMix's desktop capture and the Web Interface. Both free and there well before Wirecast's offerings. I like the cleanness of the the Wirecast interface and the composition tools. That is an indication of the size of the Telestream development team.
The price on all of the tools is pretty normal when you compare them against other niche or enterprise toolsets. A tool such as SAP for example will cost over $2000.00 per user and then an ongoing maintenance charge of between 15% and 25% RRP per annum. We should think ourselves lucky that the manufacturers of our products do not charge in the same way.....