Do you have a DVD burner to go with it? One of the nice things with MPEG2 compressed video is the ability to make your own DVDs to send to friends and family.
The only recommendation is that you do some homework before you buy a DVD recorder. There are some incompatibilities out there so you need to look and research before you buy. MPEG-2 is the compression format that is used to story video on DVDs (and VCD/SVCD)