MPEG-4 is an important international standard with wide applicability. This paper focuses on MPEG-4's main profile, video, whose approach allows more efficiency in coding and more flexibility in managing heterogeneous media objects than previous MPEG standards. This study presents evidence to support the assertion that for non-SIMD architectures and computational models, most memory-system optimizations will have little effect on MPEG-4 performance. This paper makes two contributions. First, it serves as an independent confirmation that for current, general-purpose architectures, MPEG-4 video is computation bound (just like most other media processing applications). Second, our findings should prove useful to other researchers and practitioners considering how to (or how not to) optimize MPEG-4 performance.