Well, I still haven't found a solution, but thought I'd post my workaround, since others seem to be having the same problem.
Step 1. Do your animation at 32 FPS, and render to JPG files.
Step 2. Open Windows Moviemaker goto Tools -> Options
Step 3. Set Picture duration to 0.125 seconds (the lowest possible)
Step 4. Import your JPG'S
Step 5. Save that as a movie file.
Step 6. Import that movie file.
Step 7. Apply the speed up, double effect twice,
and that should leave you with a video file the same length as you planed, the trick is rendering it at 32 FPS (because of movie makers limited picture duration setting) otherwise the animation won't come out the intended length.
Wish I had a better solution but I hope this helps.