I have a file that is 3.3mb and meant mainly for online distribution. I tried saving it as optimized, but that did not reduce the file much at all. I also tried reducing the file, selecting still the same version of acrobat, and got basically the same result. The file does have forms and scripts in it but no pictures or anything. I'm wondering if I can reduce it to an older version of adobe or if there is anything else I can try that will shrink the file size without breaking anything.
As a last resort you could try importing into InDesign and exporting a pdf using the "Smallest File Size" setting. This also sometimes gets rid of "gunk" that is hidden.