A study on the video plus depth representation for multi-view video sequences is presented. Such a 3D representation enables functionalities like 3D television and free viewpoint video. Compression is based on algorithms for multi-view video coding, which exploit statistical dependencies from both temporal and inter-view reference pictures for prediction of both color and depth data. Coding efficiency of prediction structures with and without inter-view reference pictures is analyzed for multi-view video plus depth data, reporting gains in luma PSNR of up to 0.5 dB for depth and 0.3 dB for color. The main benefit from using a multi-view video plus depth representation is that intermediate views can be easily rendered. Therefore the impact on image quality of rendered arbitrary intermediate views is investigated and analyzed in a second part, comparing compressed multi-view video plus depth data at different bit rates with the uncompressed original.