queueing will only be active, when you have an overload situation on the interface. Thus even best effort traffic can take 100% of your interface bandwidth, when there is no congestion.
In case there is congestion the bandwidth available will be distributed between all traffic classes, where there are packets waiting to be serviced. So bandwidth will always be "allocated" to all traffic classes. This includes free capacity from the PQ.
In addition to the previous post, you also have to remember 1 other thing: by default, Cisco routers only allows you to "slice up" up to 75% of the actual interface bandwidth, to prevent your inadvertently starving class-default traffic. Therefore, if you already include class-default in your CBWFQ, and allocated a specific b/w percentage to it, you can configure "max reserved-bandwidth 100" on the interface where CBWFQ/LLQ applies.
One curious question: why did you allocate so much bandwidth to your LLQ?
One really important caveat that was not completely clear to me until recently is that unless you specifically call out a bandwidth or bandwidth percent in your class default, the other defined classes are capable of starving out the class default. Aparently the algorithm is written such that the defined bandwith queues can utilize any remaining bandwidth before the default queue. (this is reguardless of the fact that there is an implied minimum 25% allocated to the class default)
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