To be frank, it seems like an incremental upgrade. The only real difference I notice so far are options to render into the Mac compatible format. That and there are now two additional output quality settings. The people I work with the most are FCP based and are leaning towards getting the Mac version of Cineform once it is released, so I'm hoping this will give us a common media file format. I understand there are some internal differences but so far I don't really see much difference.

This is related to the WMP aspect ratio problem:

Virtualdub used to recognize the proper aspect ratio of Cineform avi clips. Since I installed Neo HDV, it no longer does. Cineform clips now appear to be vertically stretched 4:3 clips rather than the 1.3 aspect ratio 16:9 clips that they should be. This is true with older clips that were converted with ConnectHD and used to format correctly. I'm sure it is just a simple flag issue, but it needs to be fixed.

The same thing happens with Roxio DVDit Pro HD. It will author with Cineform AVIs, but they become pillerboxed 4:3 in the process. This is a shame because DVDit Pro renders the Blu-ray compressed mpeg2 files a whole lot faster than Vegas does.