Need to reduce mpeg2 file

[jakl14]

I recently capture a 2 hour documentary off of the TV that I was planning on putting onto a DVD. I captured it using my ATI All-In-Wonder 8500DV using the "DVD" preset(which uses MPEG-2 at 720x480) After I finished capturing, the file was 7.1GB, which definitely won't fit, so I edited out the commercials using the mpeg tools part of TMPGEnc and now its down to 5.48GB, which is still too big. I need to be able to take the mpeg-2 file I have and make it fit on a dvd-r. I know that I can either change the resolution or the bitrate, but I dont know of any programs that can do this for me, seeing as VirtualDub cant import or export mpegs, and TMPGEnc gives me the error "unable to open, or unsupported". And yes, I have already tried to fix this by upping the priority of the codec and making sure I have an Mpeg2 codec.

I downloaded an mpeg version of virtualdub which allowed me to import mpegs, so i tried frameserving from virtualdub into tmpgenc so that i could reduce the resolution to 352x480 which seemed to work, but the encoding time was like 12 hours, so i stopped it after a about half an hour and for some reason(maybe i entered the wrong resolution) the part that it did convert seemed out of whack, the picture was very tall. This could have been due to that fact that I put a resize filter on it in virtualdub and then set the same resolution(352x480) in tmpgenc??

From info from other posts, I even looked at dvdshrink and rejig. DVDshrink seemed to only deal with ripped DVDs and I couldnt open my file in it. I managed to use Rejig to mess with the file and change the bitrate(by setting a file size limit). The only problem with this is that the file is 3.36GB in mv2 format, is the same resolution, and has no audio(which is in a separate MPA file). And MyDVD doesnt support importing separate video and audio files.

I have been through tons of guides but none of them seem to deal with messing with an Mpeg2 file, they are all converting to an mpeg2 file. I have been looking for stuff all day, and for something that takes me like half an hour with an avi in virtualdub, this seems pretty ridiculous. Thanks for any help you can give me.

My captured video specs are as follows:
5.48GB
740x480
1018.10kb/s
1.5 hours long

[Tommyknocker]

From info from other posts, I even looked at dvdshrink and rejig. DVDshrink seemed to only deal with ripped DVDs and I couldnt open my file in it. I managed to use Rejig to mess with the file and change the bitrate(by setting a file size limit). The only problem with this is that the file is 3.36GB in mv2 format, is the same resolution, and has no audio(which is in a separate MPA file). And MyDVD doesnt support importing separate video and audio files

Dude, you are halfway home. Launch IfoEdit and load select DVD Author-->Author new DVD. Load the m2v file as video and the mpa file as audio. Select your output folder and "OK". The resultant files are DVD-compliant and only need to be shrunk by DVD Shrink if they are too big. If they are not too big, burn as normal.