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If your upload speed is very stable, such as a DSL connection, you should be able to go close to your upload speed limit without any issue. For example, 1.5Mbps should be fine, possibly 1.6Mbps. If it's a wireless or cellular based ISP, you may need to drop further back than this. I suggest doing a trial run with a continuous ping in the background, such as to Google's DNS 8.8.8.8. If there is barely any increase in the ping times compared to 1000Kbps, then that bitrate is fine. If however, you see the pings regularly spiking up such as over 100ms, then try dropping back the bitrate by 0.1Mbps.

Thank You Sean! I'll give it a go! All the best, Bill