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Originally Posted by zekeisaszekedoes
No, it's an older standard. Good for the time, but deprecated now.
MPEG-4 offers superior compression for the same bitrates, and tvyhat compression has variable macroblocking (MPEG-2 is fixed at 8x8) so any aliasing will be much less obvious due to this and some other techniques such as CABLC which increase efficiency.
For quick reference, MPEG-2 is used on DVDs and MPEG-4 on Blu-ray. Basically if all Blu-ray content were encoded in MPEG-2 at roughly the same quality settings the files would be roughly four or five times the size!
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There are actually some Blu Rays that were encoded in Mpeg2 believe it or not.