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Codecs

I captured video from my Hi8 camcorder using ATI's program (I have a Radeon 64MB VIVO) and saved it as 480x360 MPEG-1 file. Loaded it into Premiere, edited it, etc.
The MPEG-1 file I captured is 156 MB. It's about 3 and 1/2 minutes long. I edited the footage and now it's at 2 minutes, 45 seconds. Which is the best codec to used when exporting so the file size is as small as possible. Does anyone know of any webpages explaining the ups/downs of the different codecs? I used Divx Fast Motion and it went down to 16.7 MB. Nothing else I tried (exporting using Indeo 3.2 now) came close to that file size, so I guess I'll use Divx. Now if i send this to someone else to them to view it, do they need the Divx codecs? That's why I prefer using another codec but they all seem to suck compared to Divx. Thanks for any help you can give me.


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