I get some wackiness trying to play VC1 content:
None of those color issues with AVC, but playback is very choppy on higher bitrate stuff, get about 15fps. But CPU is at 100% (C2D @ 3.4ghz)
No issues with MPEG2 stuff it seems.
Graphics card is a 8800GTS 640MB, its the original G80 version so no DXVA or CUDA.
Also, madVR didn't work for me at all with v0.1, just got a black screen.