Check out the Adaptive Bitrate options instead. Those are more modern presets that are also better suited for higher resolution videos than the older presets. H.265 is great, but you have to be aware of potential lack of support by some devices, but if you're uploading to YouTube or any other streaming service that supports H.265 then it's not a problem. You'll get a roughly 40% decrease in file size at the same bit rate, but this higher efficiency also comes at the cost of slower encoding times due to more horsepower being needed. However, Hardware Encoding is now supported on H.264 and H.265 in AME, so the GPU does the heavy lifting and encoding is super fast.
Neil gave a bunch of great reasons why it's hard to answer the "is it good/high enough?" question—because it's going to be different depending on the content. I would give the Adaptive High Bitrate options a go with H.265 and see if they look good to you; they'll provide a good starting point for high quality files.