I tried great program from Lonely Cat Games. Its called Smart Movie. Great program very user friendly. Lets you choose bit rate for audio and video. Uses Xvid codec. 2hrs movie uses aprox 100MB of MMC. I coded mine in 96kBps for video and 32kBps for audio. Subtitle is also available. Try it!
Movies on NGage
Alread posted a number of times,long time ago.Thread closed,search the forum.