First of all, understand that MPEG files are already compressed video files. MPEG1 and MPEG2 do it in different ways, but non-the-less you already have compression going on. You can however, quite easily compress further, in this case to 700 MB.
BUT you will have to lose quality, as you basically have nothing "spare" in your data, so you must therefore lose data.
You can compress MPEG1 into anything at all, be it Windows Media, Real Player, or just more compressed MPEG1. Or even MPEG2 if you wanted i suppose.
What you need is a program (and maybe also a plug-in to that prgram) that can read your file, then re-encode to something else.
There are lots and lots of these around, from professional video editing stuff like Adobe Premiere (which i would use) to freely downloadable stuff.
Either search for yourself (on google or something) for words around 'MPEG', 'encode' or similar, or follow this link
<A HREF="http
/www.doom9.org " target="_new">http
/www.doom9.org </A>
or this one
<A HREF="http
/www.vcdhelp.com " target="_new">http
/www.vcdhelp.com </A>
Anything else i can do for you?
<A HREF="http
/www.anandtech.com/mysystemrig.html?id=18108" target="_new">http
/www.anandtech.com/mysystemrig.html?id=18108</A><P ID="edit"><FONT SIZE=-1><EM>Edited by NurseMSIC on 06/20/02 01:14 PM.</EM></FONT></P>