I have a client that wants to be under 5mb. it's a 15min movie standard deff and i've been up all night working on this. So i finally come to anyone here that can help. the smallest i've gotten it is 27mb.
lower the output resolution to 240x180 and heavily restrict the clip data bandwidth to something around 100k or under, chop the frame rate to 15fps, lower the audio to 22khz, 48kbps and maybe you'll get there. Maybe.
Just realize that it's gonna look like hell, but it might be possible. Smallest video I have is 5.1MB based on those settings, but it's only 2 minutes long and hinted for QTSS streaming...
Of course you could also chop out 10 min worth of video out the thing or divide it into multiple 5mb clips. ;~)