10GB Video to fit on a 4.7GB DVD

Question

I've recorded a wedding onto mini DV and when I exported the 48min video to quicktime from FCP, the video is 10gb! Will this fit onto a DVD? I wouldn't think so since the DVD says 4.7GB.
I know there's way to compress files and retain quality, but I don't understand it well at all!
Question.
1. Is there a way to compress this video from the timeline in FCP to under 4.7GB with good quality? I'm not familiar with compression formats and directions so could you please assist with simple words

Answer 1

+I do have both. But I have little experience with compressor and none with DVD Studio Pro. However, whatever you have to say would greatly assist!+
Ok,
I'll mention simple steps and I'll try to make them as much clear as I can.
Why Compressor ?
Compressor will create an Mpeg2 of your edited video and an ac3 (dolby stereo) for the audio (You can't create ac3audio with DVDstudio).
(Use google for any farther information about any word or definition that remains slightly unclear to you).
After that is done burning your DVD with DVDStudio will be quicker and easier.
Step 1
Once you are done with the edit you can:
either export it straight from the timeline to Compressor (File>Export>Using Compressor)
or create a QT movie (check self-contained in the export window) and import into Compressor after you open it.
If you export it straight from the timeline Compressor will open automatically,
if you wish to use the self-contained QT movie you can still export it from an open FCP project or open Compressor independently. If the the latter is your case once you open Compressor click on *Add File* in the toolbar (top left corner ).
In both cases your video will appear in an untitled project right below the toolbar. You can see the movie (or FCP) icon and the title of your project.
Now, the simplest way to proceed is as follow:
you see the text next to the icon of your movie (in the blue rectangle) saying "drag here settings and destinations"? Now go to the settings window below, you can see the settings and destinations tabs. Go to Settings*>*Apple 4 groups>DVD 10 groups>*DVD best quality 90 minutes* two settings. This is the most common setting to use.
In a nutshell drag the DVD best quality 90 minutes folder over the "drag settings and destinations here" text. Choose your destination. If you click each setting the inspector window activates. Now before we go ahead I suggest you to read the manual and understand the importance of the inspector window and its functions. In particular read about Avarege bit rate, maximum bit rate and in general Variable frame rate (VBR) and constant frame rate. With regard to audio read about ac3.
This time we leave default settings and proceed by clicking the Submit button.
In the preview window, right below the player commands you can see a little arrow and a date, click on the arrow and you can see that Compressor is encoding your video.
Step 2
When the encoding process is over open DVDstudio.
See the first button of the toolbar , top left? Click on Import Asset, find your encoded audio and video files and open them.
Now since your movie has been already compressed video(Mpeg2) and audio (ac3) they will show in the assets tab below the graphical tab followed by two green lights.
From now follow Shane Ross's steps from point 3 if you don't want a menu.
If you want the menu there's a simple video tutorial that came with FCP 2. Take a look at that.
Hope this helps,
G.
PS. BTW yes, 10 GB DV once compressed will easily fit in a DVD