Cinepak and Indeo are codecs primarilly used for crappy, postage-stamp-sized videos that run off 486's. If you're putting your video on CDR (for storage), then use an MPEG standard, like Ligos or DivX ;-). Both compress very nicely without too many artifacts. The key is experimentation.
So if you're putting video on CDR for STORAGE, then use just about any codec/format you want.
If you're putting video on CDR for a VIDEO DISC, then you must use MPEG, and within the standard specifications (so yeah, the NTSC VCD standard in that case).