Hi dooki - yup like Brian says Rebuild is what you want for that. Some more information here:
http://moi3d.com/2.0/docs/moi_command_reference10.htm#rebuild

That will reconstruct a curve by sampling points from it and building a new curve through those sampled points, and using more points as needed until the new curve is the specified tolerance distance away from the original.

It should reduce the point count by quite a bit on something like that but possibly not quite to the same extent as a totally hand drawn one. But it should get it much more manageable.

- Michael