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If you have RealPlayer installed on your phone, then you're best of just clicking on the file to try and run it even if it gives you a warning. Every Friday I get the Have I Got News For You vodcast from the BBC, and despite getting a warning, it still plays the file without a problem.
I am having the same problem. I think the real application installed in N73's really cant play Mp4. I tried changing the video setting to Normal which saves video files as .3gp and it plays well although the quality is not good.
I think it was stupid to put the mp4 video quality capture in n73 phones without the capability to play them within the phone.
Not sure about the N73 as I don't have one, but on the N95 even though I can download Podcasts in mp4 format and it gives a message saying the format isn't supported, when I try to do so it plays them without a problem.
As the mp4 format encompasses several different ways of encoding data at different bit rates it may be that not all of them are supported. For example on the N95, mp3s at a high bitrate (192bps or however it's measured) can't be played !