I would use quicktime conversion h.264 (standard settings) and export a high and a low broadband version. It gives the smallest file size while keeping the best quality in my experience. An hour is going to big no matter how you look at it. It will probably end up around 100-175MB depending on the footage. There is no way around it if you want decent quality. The other option would be to break it up in parts, but thic probably wouldn't be a good idea for a movie, unless it is a tutorial or some form of training.