Yes, you can choose which colorspace will ffdshow output. Normally everything defaults to YV12 (YUV/12), but if YV12 is unselected the decoder will try other colorspaces.
YV12 is faster, which is important if your machine is not fast enough for the given video. YV12 also enables smooth h/w scaling. If the video is viewed at the original size, and the machine is at least 2 times faster than needed for normal playback, you can force RGB32 for best possible quality.
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