You have v2.0.1811. It runs in demo mode on my system and ads its logo overlay. The decoding quality is O.K, the same that I have with my decoder.
My version is a little newer v2.0.2525. And it offers two different deinterlace options (that's however not important). I got it from K-Lite.
I have never seriously considered changing the MPEG2 decoder. You don't need to fix what's not broken. ;) I took a look on a more recent K-Lite. There was no Elecard anymore for some reason (legal perhaps). I trust this decoder I have now as it was able to decode NTSC video on my old 400 MHz Celeron where ffdshow appeared too slow.
Edit: I see the new decoder has grown in size 4 times. ;) It runs in demo mode too.
I examined the decoding quality on a non-interleaved movie with deinterlace off. Interleave-like artifacts appeared where there were none in the output of v2.0! I cannot explain why. Vertical filter deinterlace is the same as "software deinterlace" in v2.0.1811. The new version added an interesting Double Rate option, which removed interlacing of interleaved videos, but also created frame time jitter and made the video look like it was filmed at low framerate like 15 fps (while it was 25+25 fields per sec).
The version numbers of the new and old decoders cannot be compared directly. Our v2.0 are older than the new 1.0.172
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