NotchLC (more information here) is a high quality, GPU accelerated video format. It offers higher quality results than HapQ, at the cost of higher GPU usage as well as larger file sizes. It also provides 10-bit color output.
The 'Quality' slider in the Movie File Out TOP linearly blends between the various NotchLC quality settings. A quality of 1.0 is the same as NotchLC's 'Best' quality, and 0.0 is the same as NotchLC's 'Good' quality.