This plugin will reduce the number of keys frames for a given set of channels, Motion, Rotation, Scale or all. It can act on the selected object, a hierarchy or all items. There are two modes for reduction; Step/Kill and Curve Average. Requires Messiah:Studio 1.5 or Messiah:Animate 4.0
An examples results video: Dvix AVI (http://www.borderequals0.org/images/dev/keyreducer_ExampleClip.avi)
More information and images available at the site.
edit: fixed link