i was looking for that too, and i could compress a 1h45m avi file on 77mb using 320x240 (this is the gp32 full screen setting), frame rate 24 and running perfect at 133mhz, with very good quality indeed. Just can´t get the sound going, i think i have a codec prob, its chunky and cranky all the time.
Anyway, im working right now so i dont have any settings here for this, but, if u are interested, email me and i can get u the settings file that u can load in vdub.
See ya