Convert AVI to Mjpeg-II or other format

[hemang]

Hello everyone. I have asked this question earlier too, just want to get any new recommendation for the same issue.
I am having a Canon A720 Digital camera which records AVI video. It is very large in size and as per recommendations from this forum in the past, I am converting these into DVD compatible MJPEG-II videos using SUPER as I am comfortable with this. At the moment I am just having all these videos on my laptop, maybe someday I hope to make a DVD by combining them.
My post here is to just ask if this is still a good option or that I should use some other format. I do not have much knowledge of video formats and codecs.
I am attaching GSpot report of the original AVI file

[hemang]

Attached is the converted file

[guns1inger]

MJPEG is not DVD compatible, MPEG-2 is. So the first is no good, the second is DVD compatible. However the audio and video bitrates are far too low for my liking.

[hemang]

MJPEG is not DVD compatible, MPEG-2 is. So the first is no good, the second is DVD compatible. However the audio and video bitrates are far too low for my liking.

I have posted my original file screenshot in the first post. What would you recommend me to convert it into so that the file size is reduced, I can play it easily on my PC and make DVD's in the future.

[guns1inger]

I would buy a large portable HDD and archive the originals to that until you know what you are going to do with them. SUPER is not a great quality tool, so I would not be using that for final output anyway.