Replying to Adobe Premiere Pro CS4 Exporting Issues

So I've been trying to figure out what the problem is for a few days now to no avail.  I made a simple edit with one track and the thing is about 3 minutes long.  The footage is from a GoPro HD recording in 720p at 60 fps.  I rendered the project and exported it as an AVI and ended up with a 752 MB file.  It works great and all, but Jesus Christ it's a ridiculously huge file and I know I fucked up somethiing.  I feel like I'm not encoding what was rendered....but I've tried encoding about 10 times (each attempt took about an hour).

Any help at all would be appreciated because I'm fed up.