You’re starting out with 1920×1080(interlace?) HD files and you want them smaller.
Many people use “stream” when they mean “progressive download” – BIG difference!
Are you hosting on an HTTP type or MMS type server? They “serve” very different purposes.
If you’re hosting on HTTP and I assume you’re using Flip4Mac to create WMV files then try:
WMV 9 Standard
2 Pass Variable bit rate
Q=0 (zero)
Bit rate 500kbits/second
Key frame every 5.0 seconds (you may want to experiment with this depending on content)
Type Interlace Upper Field First (but you should really check this in the Summary Field in Compressor)
Size 320×180 – should be small enough not to stress most playback computers on broadband
Frame Rate 29.97 fps if you’re NTSC, 25 fps if you’re PAL, 23.98 if that was your way of working.
Output Type – Progressive.
Audio
WMA 9 Standard
One Pass CBR
64Kbps, 44.1khz, Stereo
The above file should be about 564kbps/second and look pretty good and work on all but the slowest broad band connections.
Make sure you check your source field order.