Is it possible to compress HD video from 1.5gb to .5gb w/out losing quality

i need to compress HD video, whos files sizes range from 1.5gb-2.5gb down to .5gb-1gb, respectively. is it possible to do it without losing any noticeable quality or not. what i do is export the file as quicktime movie and get a file around 1.5gb so can i get that down to say 500mb's? i have compressor and final cut pro 7, do either of those work or do i need another program or is what i am asking simply impossible

Some quality will be lost. You are, after all, compressing the video.
The H.264 codec is darn good at being low data rate but good quality. BUT, it is a final delivery format. Meaning that it is meant as a final step...a way to compress your project into a viewable format. It isn't editable.
Just use the Quicktime 7 Streaming presets.
Unless you intend this footage for some other use. What EXACTLY are you trying to accomplish? And note, a "quicktime movie" is just a format. It's like saying "a car." What TYPE of quicktime? H.264, MPEG-4, Sorenson, ProRes, HDV? Like Toyota Camry, Honda Accord, Jeep Cherokee...
Shane

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Is it possible to compress HD video from 1.5gb to .5gb w/out losing quality

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