This is with Pentium 4 3GHz, XP SP 3 Pro, Asus AH3450 graphics.
The picture is totally black, but the audio is OK. It fails with all videos including HD and SD.
But it works on my other machine which is a dual core AMD 1.7GHz.
Other programs sort of work on the Pentium machine. VLC gets stuck early on for HD. The only reliable HD program is the one that comes with the Hauppauge board, but it can't do full screen with HD.