Do I need 2 different handbrake rips from the same file for iPhone 4 and 1080p tv?

i have bunch of 1080p videos want play through itunes on tv , on iphone/ipad via home sharing. using handbrake have convert these @ 2 different rates/resolutions or possible convert them h.264 1080p resolution , they'ed play on everything?

 

i think going have to. think there bitrate issue well. have atv 1 , 2 , encode atv2 setting not play on atv1.

 

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