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If VideoReDo's frame-accurate editing has to re-construct a GOP around a cut-point (which it only does if it's not an I-frame) and the end result is a perfect edit, who cares whether this is not "truly lossless"?
@ the OP if you want absolutely perfect cuts of MPEG2 (HD or SD) at any frame in the video, then VRD may be worth the money to you.
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