I know that a lot of people are having a problem with videos displaying the wrong amount of time during playback (usually only a fraction of the actual time...ie 1 minute when it is actually a 8 minute video). With most cases you can manually click the slider bar in whatever program you’re using (WMP, Realplayer, etc.) and advance it and it will start displaying the correct point in the movie, but only go for a few more seconds before reaching the end again.
Anyways, I just figured it out. I was able to identify the codec giving me the problem because, well, it was being stubborn when I tried to delete it. You will have to boot into Safe Mode with the command prompt, then go to your C:/Windows/System32/ folder and delete the mpeg2dmx.ax codec. Then reboot, and everything is back to normal.