I'm trying to compress a 30min QT video that is 50gigs onto a standard DVD. I'm using Compressor, and using the various default settings for Mpeg2. My video is 4/3 and I've used CBR and VBR passes, but since I'm finishing on standard-def DVD, never adjust the bitrate above 6.2. Every time I've compressed, my resulting m2v file is only 2 gigs big and is of poor quality.
I'd like my final file to be higher quality and fill the 4.7gig DVD. But I'm afraid if I adjust the bitrate above 6.2mb/s it won't play on most DVD players.
It seems like you are getting a pretty good sized encode off of your settings. While I am generally quite happy with the results of Compressor 2's (v.1's encoder sucked though) at SD bit rates, if you really want better quality, the only option may be using a different encoder. There are many recent reports here describing better encoders for MPEG-2. Also, if your source is 480i, compress to 480i and view the encode on a BVM or TV like your DVD is intended. Do not trust your desktop display for accurate playback quality.