Reducing SVCD File Sizes

[todd_24089]

I have 4 SVCD files all of them are arounf 420MB each. I would like to edit them down to 350MB each so I can fit all 4 episodes on 2 discs rather than having one episode per disc with wasted space. Can someone suggest the best way to get the files down to as close as 350MB as possible?
I also have some files that are only like 34 MB each but the picture is good. Should I burn them to SVCD as is or can I do anything to improve quality? Is it only going to be as good as the source? Or would re-encoding do anything?
Thanks.

[Truman]

You can reduce the filesize by reencoding at a lower bitrate or cutting parts of the movie.