OK I see the download link produces a WAV file, which is very odd… went ahead and converted it:
lame --preset standard "movie mix 2013(8_23_13).wav" "movie mix 2013(8_23_13).mp3"
produces
LAME 3.99.5 64bits (http://lame.sf.net)
CPU features: SSE (ASM used), SSE2 (ASM used)
Using polyphase lowpass filter, transition band: 18000 Hz - 18581 Hz
Encoding movie mix 2013(8_23_13).wav to movie mix 2013(8_23_13).mp3
Encoding as 48 kHz j-stereo MPEG-1 Layer III VBR(q=2)
Frame | CPU time/estim | REAL time/estim | play/CPU | ETA
233090/233090(100%)| 1:13/ 1:13| 1:13/ 1:13| 76.044x| 0:00
32 [ 48] %
40 [ 0]
48 [ 0]
56 [ 0]
64 [ 15] %
80 [ 2083] %*
96 [ 2561] %*
112 [ 3318] %**
128 [ 21388] %*************
160 [ 76882] %%%%%%%%%%%%%%%%%%%******************************
192 [104418] %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%***********************
224 [ 12996] %%%%%****
256 [ 6648] %%%**
320 [ 2733] %%
-------------------------------------------------------------------------------
kbps LR MS % long switch short %
177.4 48.4 51.6 93.6 3.2 3.2
This reduces the 1+GB file to 118 MB.