Hello! Newbie here! I have around 4tb of movies mostly 720ps. Hard drives are getting pricier nowadays and I'd still like to collect my favorite movies. No extra funds to buy HDDs now, so instead of deleting my old collection I thought of just compressing those I've already watched. Most of my collections are around 4-5gb and I'd like to compress it to just around 900mb to 1gb per movie without sacrificing much of it's quality.

My question is what resolution should I go down to which is best for a 1gb? Which application should I use and what settings? The screen I'm using are a 32 and 42 inch full HD LCDs.

Your inputs will be very much appreciated. Thanks!