1. You can see which filter it's used when playing a file. Rightclick -> options -> filters and it's all there. If you click on advanced, yoy can even see the path to the filter.
2. If you hoover the mouse over most of the options, you will get a short description.
3. As for filter priority..it's up to every user. I personally prefer XviD filter to decode all MPEG4 stream it can decode, CoreAVC for x264...and so on.
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