Note that the QuickTime MPEG-2 Playback Component will not demux audio and video, nor will it enable audio transcoding. By transcoding your MPEG-2 video into other formats, it can be used in new forums, such as on the web, on CD-ROM, or on DV tape.
The QuickTime MPEG-2 Playback Component allows the transcode of MPEG-2 video from both multiplexed and elementary video streams.
Transcoding video content: Now your MPEG-2 video content can be imported into QuickTime Pro and exported to other formats such as MPEG-4, the new international standard for Internet media, QuickTime Movie, or DV Stream, to name a few. With QuickTime and the QuickTime MPEG-2 Playback Component, your clients and reviewers can view your MPEG-2 streams on either a Mac or Windows-based PC, and provide feedback. Professional content production: Throughout the professional content production process, many approvals and progress checks are necessary. The QuickTime MPEG-2 Playback Component is perfectly suited for professional and semi-professional content creators with projects such as: Note: If you wish to transcode MPEG-2 video content into other formats, QuickTime Pro or an application built upon the QuickTime export architecture is necessary. You need only QuickTime Player and the MPEG-2 Playback Component to view MPEG-2 content. QuickTime Pro is not necessary for playback of MPEG-2 content with the MPEG-2 Playback Component. 
Apple’s QuickTime MPEG-2 Playback Component is compatible with both QuickTime 6 and QuickTime 7. Apple’s QuickTime MPEG-2 Playback Component for Mac OS X, Mac OS 9, and Windows is an add-on to QuickTime or QuickTime Pro provides the ability to import and play back MPEG-2 content, including both multiplexed (also known as muxed, where the audio and video tracks are interleaved together into one track) and non-multiplexed (also known as elementary) streams.
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