I just installed the NVideo PureVideo decoder and must say that I can recommend it highly. I have a P4 3.06 with a ATI Radio graphics card and m2t video was horrible in Windows media player and used all my CPU. With this decoder installed, m2t playback in media player looks wonderful and the cpu usage drops to less than half. The image is nicely deinterlaced as well. For anyone with a Sony HDV camera who has problems looking at their footage, this is pretty cool.
http://www.nvidia.com/object/dvd_decoder_1.02-185-trial.html
http://www.nvidia.com/object/dvd_decoder_1.02-185-trial.html