http://www.videsignline.com/howto/showArticle.jhtml?articleID=185301351
ps: the easiest methods of compression are reduce framerate or colour depth
from the smacker compressor faq:
Q: How can I make my Smacker files smaller?
A: The obvious way to shrink your Smacker files is to simply increase the compression ratio (set your data rate from 240K to 120K, for example). However, there are several other ways to make your Smacker files smaller that are a bit more obscure:
Tell Smacker to use fewer colors. Smacker has an incredible color reducer - the difference between 256 colors and 96 colors is just not noticeable. Using the color reducer creates smaller Smacker files because fewer colors means less data for Smacker to compress.
Use either interlacing or double height compression. This will halve the size of your animation because Smacker will only have to compress half the data.
Use a lower sound data-rate. 16-bit, 22 Khz, stereo sound uses 88 kps, so just by switching to 8-bit, 11 Khz, mono, you can save 77 kps. Make sure you are using Bink audio for your sound compression - it will generate much smaller data.
Increase the sound compression level. Smacker can compress your sound data greatly at the cost of some quality. You should be able to get away with a lossy of "1" on 8-bit data and "4" on 16-bit data.
Turn off halftoning for your animations. By default, Smacker will halftone high-color input data. If your animations aren't too long, you can turn off halftoning and create smaller Smacker files.
Set the key frame control to "at 100% changed". By default, if a frame changes by more than 90%, Smacker promotes it to a key frame. By changing this setting to 100%, no frames will ever be promoted.
Note that if you are compressing to a target data-rate and you use one of these techniques, then Smacker will use the extra bandwidth to improve its quality (so the file might not get smaller, but the frame's quality could go up).