Check out the new Windows Media 8 Encoding Utility !!. It is nice. The compression is unbelievable in comparison to the sound quality . According to Microsoft you can get a Near CD quality song for the half the size of a MP3 file. I have tried it & the sound quality is fairly good . But it is less than that of a 128kbps 44,000Hz MP3 file. I have yet to try the video format. But for that size Id say it is good. Try it & let me know what you think.
You can get the file from