Oh, something I forgot to mention: I tried using a constant number of bits but varying the vector size/quantity to see how things scaled. In other words, I compared:
vec size  # vectors 
10,000  1 
5,000  2 
3,333  3 
2,500  4 
2,000  5 
1,000  10 
I found more smaller vectors works better until the number of samples matches the number if bits in the smaller vector. Plotting the functions:
(1exp(x/1000))^10
(1exp(x/2000))^5
(1exp(x/2500))^4
(1exp(x/3333))^3
1exp(x/10000)
using a graphing calculator shows that's where the curves cross:
...roboticus
When your only tool is a hammer, all problems look like your thumb.
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