Know of a good, free, video file compressor?

I've been hunting around for hours, trying to find decent (and free) software for video file compressing/shrinking. I have a number of very large files and wish to compress them. I downloaded DVD Shrink, but as soon as I start going into the destination folder, it says it has to close. I uninstalled it. I heard that Windows Movie Maker is good, too, but at the Microsoft site at the download page, it keeps telling me to install automatic updates, which I did----but it doesn't bring me anywhere near the actual download page for Movie Maker. Does anyone know of a good video file compressing/shrinking software that's free and somewhat easy to use? Thanks for any and all help! Richard

What kind of files are you trying to compress? What is your desired final format?

Try SUPER :

Please avoid SUPER. The GUI is terribly designed, if I recall the program has ongoing license issues, and it both breaks existing Avisynth installations and triggers Windows' data execution protection (DEP) by doing shady things.

i think he wants to reencode so use megui for that purpose ... i used it to compress games videos recorded using fraps they are very huge in size [1 min video comes close to 1GB] as they r uncompressed avi