So I'm bumping this thread again.
Cause now I'm more ready with a newer computer.
(Win8, Premiere CS6)
But anyway, I'm not sure if Premiere is overkill.
I have Handbrake installed. But not sure what's the best codec to use.
It's at H.264 by default, but is that generally the best one to use?
I set the x264 Preset to the "Placebo" setting
and ended up converting my mp4 video from 405mb to 262mb.

Except that took over 2hours.
So wondering if there's a better/efficient way?
And should the output be set to mp4 or mkv?