This article is from the DVD Formats FAQ, by jtfrog@usa.net (Jim Taylor) with numerous contributions by others.
The primary advantages of DVD are quality and extra features (see 1.2). DVD
will not degrade with age or after many playings like videotape will (which
is an advantage for parents with kids who watch Disney videos twice a
week!). This is the "collectability" factor present with CDs vs. cassette
tapes.
If none of this matters to you, then VHS probably is good enough.
 
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