Here's my situation:
My older camera broke and I have replaced it. The older camera, that I had for several years, recorded in MPEG/MPEG1, the newer camera records MPEG4. My current DVD player only plays back MPEG/MPEG1, so I have to convert anything I record on the newer camera from MPEG4 to MPEG format.
I have been looking at getting a new DVD player, but many just list MPEG4.
Are DVD players that playback MPEG4 files backward compatible with MPEG/MPEG1 files, or am I just looking at the same issue, only in reverse?
I have lots of old videos from my older camera and do not want to spend the time converting them all, and I do not want to continue converting my newer ones.
One last question. I do not have an HD tv. Most of the MPEG4 DVD players are Blu Ray players. I know I won't be able to watch Blu Ray discs, but can a Blu Ray player be used on a standard non HD TV?

Any assistance, including player recommendations and links to articles and products would be appreciated.

Hopefully I can resolve this and find a decent player for under $100