since you have powerDVD installed, you do have an mpeg2 decoder already.
On my system the mpeg2 decoder filter is registered to the whole system so bsplayer can use it too.
You probably need a cdxa filter
I used cdxareader from the
guliverkli project (media player classic, vobsub etc)
installation is as follow:
unzip the archive, copy the .ax file to your system32 folder and register it:
start->run
Code:
regsvr32 cdxareader.ax
according to
this page: without the filter, the player tries to load the entire file, hence the hdd activity (I suppose the error is because it can't handle too much data in one mouthful)