Best format for sharing videos

[abroxis]

Both Defcon and Hope conventions produced a number of interesting videos
on lockie topics.

For example, Exploits of mechanical locks.avi at over 700 meg as an avi file
with a running time of over 90 mins.

I am looking for suggestions of what the best formating would be to shrink the number of bytes yet keep it watchable.

[barbarian]

Probably flash video or .flv is the smallest number of bytes.

Why not offer the files as the original format and as a compressed format in the form of a torrent (or two)?

That way users can choose what they want to download.