some suggestion:
one:
If you are taking a 217MB and reduce it to 15MB, and it’s already MPEG-4, you might as well not do it. You are looking at just one large block as a picture. That’s going to be too low of a bitrate. You might want to try for like 45-55MB realistically
Two:
what machine are you using, Windows or Mac?
Three;
How long is the video clip?
Four:
You may want to check out the
ImTOO Products (not free, and not going to give a link, u can google it) if you want to take anything other than a DVD and rip it down, that is, if you use it under windows. I have used it and it works OK, although, it’s not fast. This is what you probably don’t want to use if you are looking for free. Maybe someone else can provide a link to something like it, but free.
Five:
If you are under Mac, there is stuff like FFMpegX that works, it’s a free software that you can get on sourceforge.