i have a 51.6 megabyte video file on my computer that i downloaded from limewire (avi) and i want to burn it to a dvd-r rewritable disc...will this even work? if so, can someone give me detailed help on what to do?

and what file type do i have to convert to to be able to fit the most on my dvd player, to save me buying mass amounts of dvd-r's? more or less, what file type is the most compact, will play on my dvd player and will burn properly?