COMPRESSING Video for Archiving!!???

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Preludio

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Hey, I was hoping someone could help me with the following problem:

I have several video files (avi, mpeg, etc..) on my hard disk that I would like to compress so that I can save some room on my computer.
I'd like to be able to archive the videos/movies so that they will take up little room and be much smaller than 700,000 kb.
I'd also like to be able to compress them in a way that I can open them individually I should feel like watching one of the videos.

Any suggestions? I'm confused. I've tried compressing them with winzip but the winzip file ends up being almost the same size as the actual file (example: movie file: 735,000 kb / Zipped file: 700,000 kb)

Thanks!!
 
you can't compress video like that.

you would have solve a million year old problem if you could
 
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