Low size, high quality WMV files

[devilfruit]

With the new HD capture devices right around the corner (like this one), I'm really excited about the possibility of editing HD footage.

After capturing an H.264 video, I'd like to be able to edit the clip and encode it as a WMV file for streaming online, similar to what you see here:
http://xboxmovies.teamxbox.com/xbox-360-hires/6226/Gameplay-Footage-4-HD/

My question is, how the heck do sites like this get this level of video quality with such small file sizes in the WMV format?

I can get a similar filesize with comparable quality if I'm converting the file to an Xvid AVI, but whenever I try to create a WMV file, the filesize becomes much larger than the one linked to above.

Sony Vegas is my main tool for editing and rendering video, but I can learn a different tool if I need to. Any advice would be appreciated.

[Baldrick]

Can't you set a custom bitrate in Vegas? Set the bitrate to 5MBit and it will be same size. Or does it looks like crap then?

And you can try convert to wmv9 or wmv vc1 using windows media encoder or wmnicenc.

And I wouldn't say that 5Mbit is that low size or well for HD is it not that much though.

[devilfruit]

Doh, yes I see it now, thanks.