MP4 formatted video is no doubt one of the most popular formats these days. It is viewable on most digital devices. Computers, iPad, Android tablets and digital media players that accept USB content via attached hard drive or USB memory stick.
MP4 video can be full 1080p or 720p video. 720p is probably the most popular format as you'll see on most YouTube videos. They are a little a little smaller in file size then 1080p but still look awesome on an HD monitor. 720p will preserve the full aspect ratio of recording with an HD camcorder.
DVD format is still one of the most common ways to view and deliver video. They will playback on almost any DVD player, computer and some gaming systems like the Sony PS3. On a DVD disc the video is in SD (Standard Definition) MPEG2 format.
The video files on a DVD are called VOB files for their .vob file extension but they are still just MPEG2 files. As such they can be copied to your computer for viewing.
DVD formats are 720 x 480 pixels of resolution and come in aspect ratios 4:3 and 16:9 or widescreen. Although the pixel resolutions is about 1/4 that of HD video the good news is that a DVD created in 16:9 aspect ratio still looks great on todays newer HD widescreen monitors since they "upvert" nicely.