Smallest file size but with good quality for web download?

Hi

I have a 7 minute video shot in miniDV and in the DV-AVI format I want to upload to a site for others to download. Of course the file size is 1.5 GB so I have to compress it to another format.

The problem is, I want to get it down to under 5 mb yet still have it look really good and the subtitles readable. I've tried several ways, but can't seem to do it.

Anyone have anything to suggest?
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