The QuickTime MPEG-2 Playback Component provides QuickTime users with the ability to import and play back MPEG-2 content, including both multiplexed (a.k.a. muxed, where the audio and video tracks are interleaved together into one track) and non-multiplexed (a.k.a. elementary) streams.
The QuickTime MPEG-2 Playback Component will only play the first 4 GB of an MPEG-2 file. QuickTime will open files that are larger, but only the first 4 GB of a given movie will be played.
This document will be updated as more information becomes available.
300516: "Using the QuickTime MPEG-2 Playback Component with VOB files"
303971: "QuickTime MPEG-2 Playback Component: Playback of 4:2:2 profile MPEG-2 files is not supported"