@for %f in (*.*) do 7za a "Compressed\%f.7z" "%f" & move /Y "%f" "Delete\%f"is useful. Of course, rather than spend the twenty minutes every blue moon re-inventing this, and looking up the command separator symbol for DOS ("&"), etc., I will just post it here, in all it's simplistic glory, and perhaps one day in the future, remember to look it up here again.
This command will go through all files in a directory and create corresponding compressed version in the "compressed" folder and move the uncompressed file to the "delete" folder. The folders need to exist first, of course.