Here's what I use in Premiere Pro 2.0

Don't ask me to explain these settings, I don't have time right now :)

First make sure your timeline is active and then

FILE->EXPORT->ADOBE MEDIA ENCODER
From the drop down menu, choose WINDOWS MEDIA

Use the following settings:
Video -
Allow interlace processing - off
Encoding passes: One
Bitrate Mode: Constant
Frame Width: 1440
Frame Height: 1080
Frame Rate: Same as source
Pixel Aspect Ratio: HD Anamorphic 1080 (1.333)

Bitrate Settings:
Maximum bitrate: 10,000 (you can experiment with these two settings to taste and to get a good size for the file)
Image quality: 100

Advanced Settings:
Decoder Complexity: Auto
Keyframe Interval: 4 seconds
Buffer Size: Default


AUDIO:
Audio Codec: Windows Media Audio 10 Professional

Bitrate Settings:
Encoding passes: Two
Bitrate Mode: Variable Contstrained

Basic Audio Settings:
Audio Format: 128kbps, 48khz, 2 channel bit VBR
Peak Audio Bitrate: 129
Peak Audio Buffer Size: 4

Leave the rest at default.

Ok cool I'll give that a go, cheers buddy

Giles

Quicktime pro is awesome for web conversion