I have the Power DVD Player as well. I like it because it enables me to capture very big images for my column. The Player will lock after 5 Region changes to the one set for your country. There's another software player, DVD-X, which is the first software All Region DVD Player. I know this is apples and oranges as the question is about playing MPEG files.
But ...
Since many of the best of the Japanese Models appear in Region 2 DVD's - I thought you should know about this player.
By the way, we will have a review of Yoko's Matsugane's Melon in the next AoV due out on or about September 14th.
check out the attached autographed snapshot -
From New York, this is...