Can I get a better video quality?

[TMY]

I shoot, edit, and upload the Sunday service for a church and they want the 30min+ video to be 320x240, under 100MB, and be in flash. I'm using Adobe Premiere to live capture, edit, and encode.

Here's a link to the video: http://www.spiritualliving.org/online-resources#watch

The setting I use for flash export are:
Codec: On2 Vp6
Resize from 720x480 to 320x240
30fps
Constant Bitrate about 270kbps (it varies week to week depending on the length of the video)
Two Encoding Passes
Key frame every frame
"Quality" set to Best
Audio is Stereo @ 128kbps (I like to keep the audio quality somewhat high)

Is there anything I can do to get the video quality "better", while still keeping it 320x240, flash, and under 100MB?

 

[PDR]

h.264/aac will definitely give you better results especially in the lower bitrate range compared to vp6

96kbps aac is roughly equivalent to 128kbps mp3 on most sources, the savings can be fed into the video bitrate

increase the keyframe interval for better efficiency (you don't need every frame unless frame accurate seeking is one of your goals), as well 2pass vbr instead of cbr

The only reason people use vp6 these days, is if alpha channel needs to be preserved; h.264 when using decent settings is just that much better