hi,
well its not too difficult to reduce a file size if you have certain thing in mind while exporting the flash file to swf.
1) try your optimized images, do it either in macromedia fireworks or adobe image ready.
2) try to lower down sound quality, in sound properties in flash 22 KHz works good.
3) in small sound loop use ADPCM type in sound property other wise incase of large sound file use MP3.
4) incase of vector art you can optimize them by going to modify menu and them click optimize, change the desired settings.
5) make a good preloader
i hope that will solve your problems.