I've been using the WMV codec for a while now, but I usually use Sony Vegas for quick projects. If I'm using Premiere then I use:

Code:
WMV9
2 Pass
Variable Unconstrained
1920x1080
10,000 Kbps average
Using those settings a 6 minute video came out to about 450MB. Even at those settings using the new YouTube cap of 15 minute videos you'd be under the 2GB mark at nice 1080p quality.