Video format info please

[eviltoon]

Any one out there know the pros and cons of using either avi or mpeg. I'm kind of under the impression that avi gives a better picture, but recently I've seen some really high quality mpeg. I'd really appreciate some input here, or a URL that can explain things. Thanks.

 

[Glitchny]

mpeg is usually better picture in my experience, but avi can be compressed to a much smaller size