I have been reading that MPG4's scope has been expanded to be much more of a multimedia coding standard.
I guess this could be considered a newer version of MPEG4.
It's now used in camcorders that use internal disc drives instead of tape.
My Premiere Pro 2.0 manual shows that MPEG files will work with PP2, but doesn't state which ones.

Before I buy a camcorder with a disc drive, I need to know if I can transfer the recorded video into PP2.
Is there anyone out there with this experience that can comment?