Is divx a valid format to distribute a video

Have the video ready to go but not sure the best format to put it out in. The format it was originally created in was MPG but is about 100mb. I ran it through DIVX and it is much smaller (40mb). Have also done it in a format that is divx but with formatting and stuff for an iRiver (by running it through iRiverter) and its about 20mb.
So I want to know, is the Divx format fine (think it is v6. Not sure if it will work in Windows media player).
Let me know. Email me at mollyfud [at] gmail [Dot] com or leave a comment.
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