Setting keyframes is a good way to reduce your file size. When you stop your recording and get to the Movie saving settings dialog box, click on the Settings button next to the video track. If the codec selected has a keyframe option, be sure it's checked and set to a high number - 500 at least.
Lowering your framerate prior to capture or choosing other codecs that offer more compression can also make a big impact on the file size.
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