The trick is to not just jump in and output a mesh that's the same quality and resolution as your high-rez render, i.e., do seperate renders for the mesh alone with lights, GI, shadows, atmosphere switched off at lower resolution and/or quality, and see what output mesh suits your needs. If your camera's locked off you could animate the quality and resolution settings for multiple mesh outputs in one go from a sequence.
Render Node > Sequence Output > Micro Exporter > Create new micro handler > LWO Micro Exporter.