Most effective way to reduce size of mpgs? Xperts Only

[CorkSucker]

I have after many weeks of hair pulling, reading and deducting finally converted a Divx avi to a DVD compliant mpg. now my problem lies in the size... The total size of my mpg files is 5,191,697,920 bytes. I want to fit them on one DVD-R.

I have 3 mpg files. Each approx 1.6GB. NTsc,29FPS,9.8MPS,16:9

Additional Info:
using VDUB/CCE I encoded the divx.avi to 3 pass VBR
reencoded audio using toolame
Mux with BBMPEG

File size : 1647537052,1765998304,1778162120
Duration : 3705.2515 s,3725.4717 s,3282.112 s
Number of frames: 111046,111652,78691
Drop frame flag : not set
Systems :
format = MPEG-2 Program Stream
mux rate = 10080000 b/s
Video :
format = MPEG-2
chroma format = 4:2:0
width = 640
height = 480
frame rate = 29.97 frame/s
bit rate = 9800000 bit/s
Audio :
format = LayerII
bit rate = 128000 bit/s
sampling rate = 44100 Hz
mode = stereo

What are your guy's recommendations?
Reduce the VBR of one of the sections? IF so would it still be DVD compliant? Would it reduce the size?

Use AC-3 audio instead of PCM? IF so what would be the most effective method of doing so, and what are the side effects(would it effect which players/PS2 that it can be played in)?

At max I could cut 25seconds on the intro. Would that be enough to make it work?

Finally what software would you use to burn it? (lets pretend money is of little consequence here...) Recommend top 3 choices on software authoring.

Thanks In advance,

Corky

[CorkSucker]

What did I stump everybody?? Does this belong in the advanced conversion thread?

Someone, Anyone?

Corky