From the post: "... there is some support for compressing your audio files in the current product, using the XACT tool; it's just not easy to discover. XACT supports ADPCM compression on Windows and XMA compression on the Xbox 360. You can get about 4:1 compression with ADPCM and even better with XMA. So while perhaps not as high as some other encodings, such as WMA, it does offer quite a substantial savings ...".
Let's compress some audio files!