Universal render settings for V-Ray in Blender.
If you have used Blender Cycles before, you can notice that V-Ray has much more settings and that's why they have been grouped into 5 tabs.
Options selected with blue color, are independent from a project.
Options selected with red color, depends on a project.
To render animation, choose option Frame By Frame and start rendering image, not animation. If you leave option None and start rendering animation, v-ray will try to render all frames at the same time.
To preserve showing the Image Editor when a rendering starts, for Display choose Keep UI, but If you want V-Ray to send an image back to Blender, choose Image Editor, activate the Output panel, and check the option Image To Blender.
If the Output panel is activated, V-Ray will save renders in the choosen localization.
Clamp max ray intensity
This option removes fireflies. This option should be turned off during rendering caustics.
Option Override material, replaces all materials with a choosen one, what can be useflul while working on lighting.
Subpixel mapping & Clamp output
Options Subpixel mapping and Clamp output are often turn on or off together. They smooth out edges of lights and highlights at cost of realism. This is especially noticeable, when DoF is turned on.
Primary and secondary engine
These settings aren't the best in terms of speed and quality ratio, but they are easy to adjust and the only problem to deal with will be noise.
Use for glossy rays
Option Use for glossy rays speeds up rendering of reflections at cost of quality. This is especially noticable, when roughness value is equal 0.99.
Use retrace threshold
Option Use retrace threshold guarantee high quality of reflections in crucial places. Retrace threshold removes also this kind of artifacts.
Min shading rate
Min shading rate controls ratio between subdivisions used for antialiasing and subdivisions used for shading effects like Global Illumination, reflections and shadows.
If min shading rate is set to 1, square value of max. subdivisions can be compared to samples value in Cycles.
Dynamic memory limit
Dynamic memory limit, is a maximum amount of RAM which can be used to store geometry.
Embree option will reduce render times by about 25% but this works only with modern intel processors.