I have the same Problem
I found out, that is an Problem with the Hardware-Deinterlacer. Then you turn off the Hardware-Deinterlacers under Video-Options, the Player works korrekt.
I don't know, if this is a bug of PDVD or the Nvidia Drivers.
I have tested with the 191.x Driver and the Beta 195.x, but nothing works.
With Windows 7, it isn't possible to reinstall Direct X.