*** Small-sized 2-pass re-encode of 720p for computers (PC, Mac), PS3 or Xbox, portable and mobile devices (Ipod, Itouch) . ***
*** Video is 640x360 H264; audio is 44.1 kHz/stereo AAC LC and container is MP4. ***

I can recommend CoreCodec for H264 (avc1, x264) video-playback, free DivX 7 for AAC sound-playback (and .mkv with AAC), Haali splitter (free, comes with CoreCodec) as the fastest and best combination for Windows Media Player. This is what I use.
VLC player (free), mplayer (free) and KMplayer (free) are available as alternative for all platforms (operating systems) out there and have BUILT-IN codecs and MP4 capabillities. But, video quality is approx. 10-15% lower, blurrier at least on system I have.
One can try CCCP matroska codec pack, where ffdshow codec/filter packs and Haali splitter comes in one package and support MP4 playback - but extra caution is required during the install process.
QuickTime of course, supports H264/AAC natively.
Many of movies I encode have embedded subtitles. So far, only VLC player is able to use them correctly.

USE TORRENT-SEARCH SITES, TorrentBar extension for FireFox OR EVEN GOOGLE: show-name H264
(for example GOSSIP GIRL H264).

"Home" of my torrents (for Bookmark/Favorites in your browser) 
http://piratebayproxy.live/user/twentyforty

Interesting "Discussion" to follow: 
http://piratebayproxy.live/torrent/5191311/Cloudy.With.A.Chance.Of.Meatballs.PROPER.H264 
http://piratebayproxy.live/torrent/5190694/The.Bad.Lieutenant.Port.of.Call.New.Orleans.LIMITED.H264
Your comments and opinions are welcomed, good and the bad ones.

Schedule:
Tuesday: H.I.M.Y.M, Heroes, G.Girl, TBBT as MP4 H264; ~3.48 MB/minute
Wednesday: Paradox (BBC) as MP4 H264; ~3.48 MB/minute
Thursday: Glee, Crim. M, Eastwick as MP4 H264; ~3.48 MB/minute
Friday:  30 R, FlashForward, Fringe as MP4 H264; ~3.48 MB/minute 
Saturday: Sanctuary US, Stargate U. as MP4 H264; ~3.48 MB/minute
              Dollhouse as 360p (MP4 H264)
Sunday:  Legend o.t.S. as MP4 H264; ~3.48 MB/minute, re-seed of week's episodes
Monday:  Desp.H, Dexter as MP4 H264; ~3.48 MB/minute, re-seed of last week's episodes
Double-episodes or Pilot ep. will be issued only as MP4 or 360p.
MP4 is ISO 14496-1(H264 video & AAC LC sound) and playable on PCs, Macs and hopefully (read Comment before download; I check every file for iTunes compliance) on iPod-like portable-mobile devices.
360p is fully compatible with newer iPod, iTouch and Nokia U97. 
Requests should be posted in Comments section of newest torrents.
"Out of schedule" shows or pilot-episodes may get uploaded randomly, if situation arise (free slots).