i use version 2 in live yesterday, just two thing actually ill mention.Output quakity have great enhancement.Video input is always too too bad.it could be so great and interesting to use a live camera shooting on stage!!! With firewire quality could be good but firewire is lower field first and resolume react as it was upper field first so when people move or camera move its bad , unusable! With composite in or S-VHS in with a tv tuner card for exemple, you dont have any prob when people move but quality is so bad!!!! the picture is deinterlace , thats a point but its blur!!!!( i use tv output of my ati card, but all video comi,ng from HDD is very good) the prob is specially for live input, so please check that or create a sharpen freeframe plug to get better quality!!