WAV or MP3 from your video?
WAV (this page) when the audio faces editing, precise transcription, or archiving — no compression touches it after the decode. Big files, perfect fidelity to the source. MP3 when it just needs to be small and playable.
FAQ
What's the output spec?
16-bit PCM at the source sample rate, stereo preserved.
An hour-long recording?
Works — expect a ~600 MB WAV (uncompressed means big) and use a computer.