MPEG2/4 are standards for encoding video and associated data into a bit stream. They are fairly indpendent of the modulation and forward error correction used as well as the power required. Different encoding schemes offer more efficient compressions methods than others. Higher compressions rates are typically less tolerant of bit errors/loss than becasue mroe information is packed into each bit. The end product is basically just a bit stream.
Modulation techniues on the other hand is how this bit stream is converted into an electrical signal. The capacity of a transponder is given in MHz. The transponder capacity in MHz = the Mega symbols per second capacity for that transponder. (i.e. a 24 MHz transponder has a capacity of 24 Msps). The bite rate capacity is then determined by modulation type. (BPSK = 1 bit/symbol, QPSK =2, 8 PSK = 3, 16 PSK/QAM = 4, 256 QAM = 5) Therefore the bit rate capacity of a transponder modulated at BPSK is 24 Mbit/s, QPSK = 48, 8PSK = 72 Mbit/s.
This is purely the total bit rate. Now you have to take into account and forward error correction (FEC) being used. The same 8 PSK carrier with an FEC rate of 1/2 applied reduces the bit rate of the data stream down to 36 Mbit/s. Rate 3/4 takes it to 54, rate 7/8 takes it to 63. The actual number of bits being transmitted is still 72, but the FEC adds overhead reducing the bit rate of the payload)
Why would they use FEC if it reduces the bit rate? Becasue each modulation type has a required signal level in order to ensure that the receiver can accurately differentiate one symbol from another. Single threshold are given to maintain a specific bit error rate, typically 1x10e-09, or one bit error per billion bits. As you go below that threshold, the bit error rate increases. what FEC does, is provides the receiver enough information to check the data stream for bit errors, and correct them without requiring the sender to retransmit them. FEC results in what is referred to as coding gain allowing you to send more payload bits for a given power level. Satellites are very limited in how much power is available to them via their solar panels and how much power they are allowed to transmit according to the regulatory agencies.
So while FEC isn't 100% efficient use of the available spectrum, it is basically what allows you to use a 18" dish instead of a 5 foot dish.
To summarize, MPEG defines how video is represented as a bit stream, QPSK and 8 PSK are modulation types that determine how many bits per second a satellite can handle.
I've simplifed things a fair bit, but this might provide a few people with a few bits of technical information.