Shoutbox

I have a bunch of episodes that are mega-huge (about 11gb in total) and I am looking to make them smaller.
Currently, they are ~230MB each, divx codec, avi format. I want to reduce the resolution and bitrate, while maintaining the avi and divx formats.

Anyone have any video editing/compressing programs that are any good to do this job?

VirtualDub works well.. but if they are already 250mb in dvix then any lower will look shocking