I am happy to have a mpg1(!) VCD copy of Rory Gallagher at Middlessex 1979 from the well know ROCK MASTERS label.
And I tell you: pictures and sound on the mpg1 have the same quality as our ROCK MASTERS Queen Hammersmith 75 DVD!
Its stupid to judge and reject a show, only because its mesures and values.
Use your eyes and ears, and then make a decision.
If you watch it on a half-decent TV, it will be a bunch of squares instead of clear, fluent picture. Most of the Queen DVDs I've traded for are like this, because people choose to create DVDs from VCD/SVCD, which of course isn't true DVD. And in many cases, the audio has digital noise that is clearly audible.
I have trained my ears, so I can hear these things. But for those who haven't got trained ears, the best way to train them is to compare a lossy and lossless version of the same recording. In many cases, the difference is striking. Until this place bans lossy stuff, most people aren't going to notice the difference, and they'll keep asking for VCD quality because the files are smaller and more convenient, since that's the only difference they can see.