Don’t have either of the old versions of FC or Compressor sitting around, but what you want is a program stream MPEG2
Program streams: These streams contain only one MPEG-2 content channel and its associated audio. Program streams require an error-free delivery method and are primarily used for storage or processing within a computer.
in compressor look in the settings panel for MPEG, as opposed to DVD. There should be a Program stream setting in there. All the settings are adjustable to get the best combination of speed and quality. It does take a while to render, especially on your machine.
Good luck
Non-linear: all the time and nothing but.