VirtualDub ignoring compression

[Koganei]

I'm trying to re-encode a DivX 5 AVI into a DivX 4 AVI, I have both codecs installed. I open the file in VirtualDub, set both Video and Audio to Full processing mode, audio compression to DivX WMA Audio V2 128kbps, 44 100Hz, stereo, video compression to DivX MPEG-4 Video Codec at 3 sec per keyframe and 912kbps. I preview it and it tells me that the output file is some 33GB...
The audio seems OK, but the video is huge. I've tried it with many other codecs and they all give the same result.
Is VirtualDub ignoring the video compression or something? How do I get it to work?

Thank you.

Koganei

[KingJohn]

912kbps

Try 300Kbs, and test quality, reduce it more until quality is no good.