Since the average file size of tracks in my library is slowly getting larger, especially when using .flac, it would seem logical that the right-click Send To submenu would include a way to reduce that file size when exporting to email. Add "Email" option under Folder (Rip/Convert) or a "Rip/Convert" option under Email.
With that said, consider downsizing album art on export, too. I'm slowly replacing album art in my library that are anywhere between 600x600 to 1000x1000 resolution, which add a megabyte or more to the file size. Flac and hi-res graphics is great for my Home Theatre PC, but not for an iPod or email.