Currently the logs are full of messages about the encoding of the included files.

This happens regardless of the verbosity option. I do think that only /V3 or even only /V4 should show them.

The /V switch followed by a number between 0 and 4 will set the verbosity of output accordingly. 0=no output, 1=errors only, 2=warnings and errors, 3=info, warnings, and errors, 4=all output.