Use the Sorenson3 algorithm in QuickTime 4-5. Works very nicely. Just play with the settings until you get what you like... Or try MPEG-4, since QuickTime 6 just came out today... MPEG-4 is very high quality but good compression. You'd need to post a link to download QT6, though, as it is new and most people don't have it yet.
I have been working with the video file you sent me for a while now, and can't make it smaller... I suspect it could be done, but probably not without losing quality. At that resolution, length, and with good quality video and sound, that may be as efficient as you will get it.
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