Reducing size of video clip

I recorded a video clip (3 minutes) on my Sony digital camera at high resolution. Its 64MB and I want to try reduce the quality so the file is reduced to a size I could send by email.

Compressing it as a ZIP file brought it down to 48MB. The video is quite high resolution so could handle a reduction in pixels/quality and still be watchable - any ideas how to do this?

I am surprised that compressing it brought it down as usually the MPEG2 / MPEG4 compression that is already used in the recording is very good.

I personally use [broken link removed] - costs €30 - which allows you to open files and convert them into different formats, at different image sizes and quality.

(Version 7 is out for the Mac now and the Windows shortly. If running Windows, I wouldn't buy Version 6 now or you will end up paying again if you wish to upgrade to Version 7 later.)

There are a load of shareware tools that claim to do the same, but it is a bit of a maze with lots of adware.