fastest way to resize video?

hello
so i have fraps to get some video from my games i play, but the videosize is so huge, like 2gb easily..
so whats fastest and easiest way to resize it to little size without losing much quality? ive tryed virtualdub, but i dont have any mp3 or whateva on compression list.
Answer #1
i used megui for this (its the most commonly used s/w by the ripping teams)
no way its fast use format factory or avidemux
Answer #2
but i dont have any mp3 or whateva on compression list.
AVIdemux has it built in
for Vdub install “lame MP3 eccoder”
google “lame installer”
Answer #3
but i dont have any mp3 or whateva on compression list.
AVIdemux has it built in
for Vdub install "lame MP3 eccoder"
google "lame installer"
thanks that helped