You can also think of CBR and VBR as variable quality (CBR) and constant quality (VBR). With CBR, because the bitrate is constant, if there's a lot of fast action going on in the scene, you end up spreading the bits thin and the quality drops. So the picture ends up being super-sharp on still scenes, but pixelated on action scenes. With VBR, the fast action scenes get more bits devoted to them so quality remains relatively constant in still vs action scenes.
The drawback of VBR is that you need two passes to encode it. The first pass figures out where the action scenes are so more bits can be assigned to it, the second pass does the encoding. If the extra time of the two-pass encoding is not a problem for you, then VBR is...