I've done something a bit silly. I purchased DMC4 from GamersGate not realizing that it is a whopping 8 gigs big.

In order to burn backups, I'm going to have to make one archive and then divy it into two archives.

Can 7-Zip do this?

Indeedy do...

http://windows7themes.net/how-to-split-large-files-with-7zip.html

Cool beans, man! Thanks.

Probably a useless post:
The tutorial shows how to use 7zip to split a volume, but using zip, You can do the same using 7zip compression, just be sure You use 7z as archive fotmat.
The format will be similar to the one shown above, the file will be splitted into file.7zip.001, file.7zip.002 and so on.

As I'm typing this I've began the compression. I've placed all necessary DMC4 files in a folder and I'm directly splitting that folder into two archives. Will that work or should I have archived the folder into one big 7zip first?

As in "will that work" You mean, will it compress? Sure. ;)

Cool.

Thanks for the info. =)

Had I realized this was so big I woulda got it hard copy.

Before you start - check if compressing is needed. Materials on installation discs are usually already compressed so it will give you small size cut – and compressing/decompressing 8 GB takes a LONG time. If while compressing you’ll notice that compression ratio is above 80% - drop it. Just set “no compression” in options – it will spilt your folder much quicker (combining files will also be quicker).
If it is just split/combine you need – consider using Total Commander, but you will have to choose individual files - not entire folder.

The best archive utility is IZArc and it's free (as in beer).

http://www.izarc.org/

Since it handles all formats you can get rid of all the other compression utilities you have. It'll do what you're asking as well (divide up archives).

Thanks for the information guys. =)

Normally when something is more than one DVD big I go hard copy.