I was looking though dvdrhelp forum and found what thought would be one of those articles that claims something but turns out be nothing, the article was entitled
HERE's HOW TO FIT 120mins movie on one cd in SVCD FORMAT!!!!
Now this article began in March 2002 and go’s on for 20 pages, but the suggestion was that you first encode a movie to .asf format with an old windows media encoder, the new ones wont work, you can get the file here http://www.freepctech.com/pc/002/files011.shtml in a pack called Microsoft multimedia tools and then encode the asf file normally with tmpgenc.
Anyway to draw a long story short a person who go’s by the aliase of Kwag has taken this on as a project and the format is now known as Kvcd most DVD players will play it but check out http://www.kvcd.net/dvd-models to see if your player has been tested for this format, mines is a cheap DVD and plays it with no problems, the link also has templates for the format.
Give it ago and tell us how it went.