Correct me if I'm wrong, it's been a while since I had this theory, but the sample rate for CCIR 601 is 13,5 MHz, and the sampling numbers means 4:2:2 is sampled at 13,5MHz:6,75MHz:6,75MHz. 4:1:1 would be 13,5MHz:3,375MHz:3,375MHz.
8 bit means that for every sample you can pinpoint the analog value to 1/256 accuracy. With 10 bit you've got 1/1024 accuracy.
Geir.