I'm so happy I came across this post... been scratching my head over this one for about a month.
Tried all codecs but having no joy and PV codec gave me best results but still had stuttering, I tried literally everything here... graphedit, codecs, tv freq, all drivers and the app that shows u latency all to no joy..
Thanks to the poster who pointed out Exclusive mode.. this solved it for me and I couldnt be happier (well maybe if you supported .rar files
)
Cheers!