If you have windows, I would just use a freeware video encoder. I use WinAvi (costs). This is the main reason I keep my windows machine, to do all the dirty work, all the music, video encoding, becuase that is where the software is, I also use it as the DVD program (DeepBurner is the best).
So I jus recommend using a freeware video encoder, especially if you only plan to use it just this once, then you should just go to www.winavi.com and see what they have, I'm sure they have a trial (But limitations I have no clue).
If you have a Mac (I assuming you do) use iMovie to open the file and export it with web steaming quality (or something like that). or use iSquint to encode it in H.264 and (if needed) a lower quality.