It compresses video file more effectively than MJPEG codec up to 5 times, because it compresses video file by motion compression. MPEG1 codec is well known codec, and many UCC sites support MPEG1 codec.
Unfortunately, Windows internal codec can't handle high resolution, higher frame rate, and frame skipping. You should install this codec to edit or play MPEG1 video file.
Unified codec pack also supports MPEG1 video/audio file. But it is too heavy because other unnecessary codecs are also installed together. Bandisoft MPEG-1 codec only installs minimal codecs to play encoded by MPEG1 codec.