The Eco License already allows output of HD videos in MPEG 2 or WMV format. Videos with H.264 codec can only be output with the Advanced License. The question is "What are the advantages and disadvantages of these formats?". WMV is a current format - it has been developed by Microsoft and is based on MPEG 4, but is not yet so widely supported by any hardware and can, therefore, only replace MPEG-2 and H.264 in special cases.
Advantages
Widely used standard and used all over the world. See also MPEG standard.
Widely supported by hardware such as DVD players, professional MPEG-2 HD players and HD video cameras (HDV standard)
Good quality, excellent quality only at high data rates
Features relatively short rendering times
Disadvantages
Decoders are not for free and are therefore not available on every computer.
High quality requires a very high data rate and correspondingly large video files.
Resolution of details is lower than with H.264; moving details result much earlier in blockiness.
Advantages
Standard that is valid and used all over the world. See also MPEG standard.
Widely supported by hardware such as Blue-ray players and AVCHD video cameras (AVHDV standard)
Very good quality even at a relatively low data rate.
H.265 is well suited for playback on TV sets and HD/UHD players.
High resolutions of up to 4096 x 2304 pixels
Relatively short rendering times
Disadvantages
Decoders must usually be purchased and are therefore not available on every computer.
Required performance for playback on older computers is high; the MainConcept H.264 decoder works much more efficiently on new quad core computers.H.265 requires distinctly more power for playback than H.264.
Due to the very long keyframe interval, editing of AVCHD videos is not easy, which may have a negative effect e.g. on cutting..
Advantages
A free decoder is available on nearly all Windows computer or can be installed.
Good quality at a relatively low data rate (twice or three times lower than for MPEG 2)
High resolutions of up to 4K.
Quality is higher than for MPEG 2.
Disadvantages
The rendering time is two to five times longer than for MPEG 2.
Hardly any hardware (DVD players, etc.) that supports it.
For still pictures which are not moving or animated, the quality drops with a lower data rate.
The long keyframe interval reduces the locating speed, which has a negative effect e.g. on cutting.