80mb? Geeze Louise; even YouTube gives you 1-Gig nowadays.
I would just output the file as regular DV but with 16/44.1 audio, then import it into Windows Movie Maker (providing you're on a Windows machine), and then choose an output option that will create a file under 80Mb. Couldn't be easier. (I say use a 16/44.1 sound file because WMM tends to screw up any other resolution).