How to make WMP slider-friendly MPEG1 from NTSC DV?

[FredThompson]

I'm trying to make short clips of full-size NTSC DV converted to MPEG-1 and everything is going fine EXCEPT using the Media Player position slider doesn't give a dynamically-changing display showing the contents where the slider is.

This works fine with the source DV (using MainConcept CODEC).

Has anybody been successful at this? How do you do it?

(I-frame only doesn't work, tried it already.) :(

[FredThompson]

I should explain:

These files are used in PowerPoint presentations. They have to be compatible with a very basic installation of Windows98. People need the ability to move around on a per-frame basis so they can study what is happening.