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How to compress MPEG movie files

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Just a quick question. Does any one know of a program, or some way to make MPEG files a bit smaller?
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Any one?

Better question...what is the smallest video format?
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Originally Posted by sccr64472
Dvdshrink works really well, especially if you're backing up a movie. It'll allow you to get rid of the extra audio or video that you don't need in order to copy without compressing. If you do need to compress or simply want to, you can set it any way you want, but if you don't burn the "extras" on the dvd, you can usually do the whole thing without any compressing whatsoever. Another trick you can do if it's close is to cut out the credits, since you never watch those anyways.
He's asking about MPEG not a DVD file.
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