[X-Newbies] Chopping Audio Files in iTunes

[J]

OK please bear with me...I've forgotten how I did something over and  
over, because I have not done it in a while.

I stopped podcasting our radio show in 2005 because I was getting  
tired of taking 2 600 MB FM quality files that were recorded on a CD  
recorder -- one for each of the two hours -- and having to reimport  
it at a lesser quality, bringing it down to 9 MB per hour and also,  
cutting out some intros at the start that were not clear.

I haven't decided to do that again, but have one file I want to chop  
for another reason.

Now I can't remember how!

I thought the process was to first import the file
Then do get Info and set the time you wanted it to start - ok so far
And then where to put in the recipe for the quality? I can't find that.
Then to re-import - not working! What did I do wrong?
I have to move it out of the iTunes folder first, I think that may be  
it, and start again, with a new name for the file.

Currently just trying to chop and re-import, and can't figure that out.
I still have the 'recipe' somewhere....for the quality.

I am doing too many things..<sigh>