[NTG-context] Squashing up lines?

I'm preparing a grant application, for which the template is given in MS Word, and for which the instructions are that the final application must be no more than 4 pages. I'm trying to re-create the Word doc in ConTeXt, and to keep within the page limit I'd like the text to be as tight as possible. This means: minimal space before and after an itemize environment, and between items. And also minimum space between lines. I'm using the Arial font, so as to most closely approximate the MS Word original. How can I do this? Thanks, Alasdair