That is not exactly correct, you do not necessarily need to convert to
another format. Because Microsoft Windows operating systems provide only an
MPEG-1 video decoder, Windows Media Player cannot play MPEG-2 program
streams without an additional MPEG-2 video decoder (also known as a DVD
decoder pack) installed.
And, if you use an ATI Video Capture card, i.e. AIW series etc., you may
already have an mpg2 decoder available simply by installing ATI's Multi
Media Center software.