The render video elements options selects how to process pixels received from the camera, the two values are nearest and linear. On most devices using nearest gives the sharpest image.
The select text locale lets you manually override your device locale. Values for this are default, English, French, and Spanish.
The filesize for FAT32 filesystem option lets you select the file size that will be used for the maximum file size for each video file created on your device. Values for this option are 2GB and 4GB file sizes. Some of the older devices only supported 2GB files and this option is the default value.