To confirm, there are a slew of presets, so they must've not installed for you. Unfortunately it doesn't give you an option where to install them, which is annoying.
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Unless I'm mistaken the Youtube tagging thing has changed, I can't see any tagging options recently (?)Tags entered by the video creator are invisible to the end-user, but are used when searching and YT displaying related video suggestions.
Isn't it the case that you can upload higher quality audio with YouTube if you want?Yup. Like Immersion said, you can encode your file with uncompressed audio so it only gets compressed once instead of twice when uploading to YouTube. That's what I do.