WOTP Compressing video

[BTM]

Hey guys, I was wondering if someone might be able to help me... been working for some time on this (hopefully) cool music video that I made combining clips from the first two Matrix with a song I particular like.  Only thing is, the video is almost done and when I turned it into an mpeg file (I'm editing it using the Ulead Video Editor thing) it clocked out at almost 42 megs large.

Now, that's fine for my computer, but i was hoping to upload it, so I need to compress it a bit I guess.  Does anyone know any good FAQs about compressing videos or software I could try?

Thanks!

Mike