If anybody else runs into this, I had to downgrade to VLC 0.8.4a in order to work-around this problem. I read in another forum that the problem is due to VLC's libavcodec.dll not being updated in a while...

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When I use VLC with the "play locally" option enabled (dst=display), I notice about half my channels display correctly, with sound and video. DVBDream is in renderless mode, and overall CPU usage is very low. I can also successfully stream these channels over my LAN. However, the other half do not d...