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How does the MPEG standard compare in conjunction with the current players/encoders available?

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How does the MPEG standard compare in conjunction with the current players/encoders available?

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In the Nof Technical manual it is stated: ‘Video must be created and stored using the appropriate MPEG format (MPEG-1, MPEG-2 or MPEG-4) or the proprietary formats Microsoft AVI, ASF, or Quicktime’ –1

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