Personally, I would just disable the video file and see if that helps with your load speed. If your page loads faster then you know it's a problem with the video file.
You also may want to look at shrinking your aircraft images on the main page and compressing them a lot more because they all have pretty large filesizes.
The only other thing I noticed is that when I view the properties of your video file, the sizing in the properties window is 320 x 240 yet if I view your page source, it has the width at 500 x 400. I'm not sure if this makes any differnce to how fast the video loads, I just thought I'd make mention of it.
You could also try opening the file in Virtual Dub and seeing if you can compress it more:
http://www.virtualdub.org/