I do not recommend your choice of exporting a 16:9 project to a 4:3 destination. Go for the 16:9 project to a 16:9 destination.
Have you looked at the possibilities for
a. lowering the bitrate for the .mp4 export
b. going for a Window Media export
When all is said and done, if you still want the lower frame size MP4 export from your 16:9 project, consider....
Premiere Elements 10 Windows...
a. Premiere Elements 10 with its NTSC/DSLR/1080p/DSLR 1080p30 project preset.
b. When you get to export....
with Presets = MP4 - NTSC DV Widescreen
The frame size is 720 x 480 to start with but with the 16:9 flag is will be displayed at about 872 x 480 pixels after encoding and recognition of the 16:9 flag by the player. But the bottom line, this way you will have a 16:9 project going to a 16:9 destination.
Other choices if you want to step up to 1280 x 720 16:9.
Please consider and then we can decide what is going to work for you.
Thanks as always for the great insight. I first looked into a 720p preset by choosing the VimeoHD preset option but that only brought the size down to 4gb and I need it under 2gb. Did you have other suggestions? If not, I'll try the MP4 - NTSC DV Widescreen. Sounds like I can use all of the defaults for that pre-set?
Thanks for the follow up.
You should be using the defaults for Share/Computer/AVCHD with preset = NTSC DV Widescreen for your AVCHD.mp4 as described in prior post in your thread.
The Windows Media would put you at an advantage file size wise but you want a .mp4 file and not .wmv.
You could explore lowering the bitrate of the following until you see a significant decrease in quality below a certain bitrate setting
with Presets = MP4 H.264 1920 x 1080 p30
and then do your experimentation under the Advanced Button/Video Tab and the bitrate setting.
We will be watching for your progress.
Thanks for exploring the suggestions.
WMV was a good tip to get the file size down at a 720p but in this particular case, it is still coming in well above the 2 GB limit I was looking for. Plus it needed to be .mp4. But that is till good knowledge for future reference!