If you do want to try converting that movie into something that might be playable and watchable on an LCIII, here are some rough guidelines:
1) Choose a framesize no larger than 320x240.

2) Choose a max framerate of 10fps.

3) Select a keyframe interval of one per second.

4) Choose nothing higher than "medium" quality.

5) Set target bitrate no higher than 100kbytes/s. Lower is better for playability, but worse for watchability.

You'll also need to convert the audio track. I recommend using IMA 4:1, set to 22kHz, and mono. That will get the audio down to less than 90kbits/s. Use SoundApp for this.

Convert video using MoviePlayer 2.5. A 300MHz G3 will convert into Cinepak at around 1:10 speed, meaning a 2-hour movie will take the better part of a day to convert.

If you are adventurous enough to do this, please post back. I'd love to hear how it works out.

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