Hi ecko51 and welcome to cdfreaks,
Mack and tahclep are correct. There’s no need to utilize shrink since you have Platinum. Platinum will do it all. Since you own v. 2.9XX, you’re entitled to a free upgrade to platinum 3. Version 2.XXX will no longer be updated so you’ll need Fab 3 to stay current. You’ll need to enter your original email (the one you used when making your original purchase of fab) and retrieve a new regkey. Platinum 3 is an awesome program and very powerful.
Here’s the link:
There are a great many variables as to how much compression one can apply, ie., bitrate, burner, media, TV screen, etc., etc. There’s a ton of info on this if you do a search. Personally, I don’t usually compress much beyond 70% for most flicks (flawless bkups), but I have with good results. I recently compressed terminator 2 down to 53% (as an experiment for another user) and it played and looked just fine.
You may want to burn to some RW media, just to fool with and get an idea of what you can do.
One tip…always use quality media…it’s cheap these days online.
Taiyo Yuden and verbatim are top-notch.
DL burning with platinum is a piece of cake. Just put in your source and blank disc, click “clone” and walk away…truly, “set and forget it”…