2. Go to Properties -> Optimize; select the option "The same files are allocated once". Click on OK
3. Save as a new ISO file in different location. It'll be slowe creation, but after you have done, check back the ISO again for its size, you will see it is smaller than before. If t is smaller than 700 MB, burn it directly to the CD. Good luck.
4. Please note that this method will work good with program like office, windows, etc... with many same files in different folders. I have tried from 1 GB downed to 680 MB. SO I hope this will help you.