Hey guys, I am new to the forum, so please be kind and treat me like the ignorant, uneducated person that I am.

I am looking to purchase a waterproof camcorder for recording the sports activities I am involved in(Surfing, Snowboarding, Brazilian Jiu Jitsu, Etc.), and the vacations I embark on. I found these 2: Sanyo VPC-E1 and Panasonic SDR-SW20 - and have noticed one major difference.

Sanyo records using an ISO standard MPEG-4 AVC H.264 (.MP4) format
and the
Panasonic records using MPEG2 (Motion Picture) format.
(I'm not really sure what either of these are by the way)

I want the best quality obviously, but would like to know which one is best for transferring onto my pc and dvds?

Any help and/or suggestions would be awesome!!! Thanks!!