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Video compression help needed

This is a bit off topic, but I thought someone here might be able to help...

I recently bought a JVC digital camcorder. Now im in the experimenting stage regarding video compression for storage on my hard drive (note: I have a DVDRW and a CDRW drive for burning full quality DV video). I have experimented with the following video formats:

Quicktime
Windows Media
MPEG
AVI (DivX)
Real Media

So far, Ive gotten the best results when using Windows media streamed @ 768kbs. This seems to offer the best image quality/file size trade off. It even performed better than the much vaunted Divx format. I have constantly played with the framerates, bitrates, audio compression, and every other option I have found (note: I mainly use Adobe Premier, but have other minor programs at my disposal).

So, what I'm trying to achieve is the kind of quality you get from a 90 min movie compressed to ~720MB and still looks decent at full screen. Such a movie is compressed in DivX format, but I just cant seem to achieve the quality for a given file size.

Any advice you guys have would be greatly appreciated
 
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