Transcode vb (bitrate) is not working

I'm using the latest VLC 2.1.3 (x86) in Windows 7 x64. When I try to use the command "#transcode{vcodec=mp4v,vb=5000}" and save it .mp4 file, the file has the original bitrate from camera. The "vb" has no effect. If I don't put "vb", then the bitrate is about 300-400kbps. If I put "vb=..." then the bitrate is about 2500kbps.

But in VLC 1.1.9, the "vb" works just fine, the file size depends on the "vb=..." settings.

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