Yes, 1.7gb not 1.7mb.
I took a look at the converter you posted about and gave it a try.
First, it would not do the whole file, stopping at 9mb with a notice to use the Pro DVD converter to do files of that size.
The output it did do also was highly pixelated and not close to the output of the other program.
Using the program I used the first time (CloneDVDMobile) and reducing the Quality down to 10, the output was reduced to 1.5gb and the quality of the output was pretty close to the original file I converted. I used 480x800 for both.
The converter might be worth it to someone who needs smaller file sizes and don't mind the pixelation it creates, but I already own a converter which work spectacularly for me.