I have a wmv file (4.25GB) which I like to convert to smaller size but keep the Quality ?
What software is the best for the Job ?
What format / setting to choose ?
You can try tools like Handbrake to re-encode the file using different container and/or codec, but cannot expect to reduce the file size enormously without some loss in qualirty.
Since both of the converters mentioned are free downloads I can only suggest that you download one or both and experiment with the settings. Try using the .mp4 container and play with the settings. .AVI will increase the file size since it is an uncompressed format. If the file is an HD file then you might want to avoid mpeg2 as well.