Codec Panasonic Camcoder

I own a Panasonic Camcoder (GS50) long ago. However, after I used Ulead VideoStudio 8 to capture the video from tape. The file size is Extremely big reach up to 4 Gb and above.Are all the captured files this big?

Even though the file is in MPG form but it cant be played.I hope someone can provide an idea of what codec is suitable to play it.

Thanks heapS yeah~