VirtualdubMod. It has been inactive for a LOT of time though, so its highly outdated now. Using DGindex or AviSynth would allow *realtime* mpeg-2 decoding without a problem though (whereas VDubMod's way required the whole file to be prepared for read). Link to the latest VirtualDubMod in link.

http://sourceforge.net/project/showfiles.php?group_id=65889

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