Sorry to be the bearer of bad news but at 870 meg it won't burn to an 80 min cd a 90 or 99 min yes.
As for it being the amount burned to the cd then the answer is no, there is also data written to the cd that enables a standalone DVD player to recognize the stream type and at what rez to play it at and host of other things, it doesn't take up much room but it's still there. Look at the VCD panel that opens up after the wizard is used, you can ee the directories in it.
The most you'll safely be able to burn to an 80 min cd is around 810-813 meg depening on your burner and the media you are using.
Hope this helps.
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