All the removed MPEG stuff is still available in the K-Lite MPEG Pack. That can co-exist perfectly fine alongside the regular KLCP.
Fixed bug with Gabest MPEG splitter sometimes not installing properly
Updated Codec Tweak Tool
The MPEG-2/DVD decoder will now be deselected by default if nVidia PureVideo is detected as installed. The pack already did this for other populair decoders.
Improved file association creation/backup/restore
Minor changes
About:
The K-Lite Codec Pack is a collection of codecs and related tools. Codec is short for Compressor-Decompressor. Codecs are needed for encoding and decoding (playing) audio and video. The K-Lite Codec Pack is designed as a user-friendly solution for playing all your movie files. With the K-Lite Codec Pack you should be able to play all the popular movie formats and even some rare formats.
K-Lite Codec Pack Features
It it always very up-to-date with the latest versions of the codecs.
It is very user-friendly and the installation is fully customizable, meaning that you can install only those components that you really want.
It's easy to make an unattended installation.
It has been very well tested, so that the package doesn't contain any conflicting codecs. It tries to avoid potential problems with existing codecs and even fixes some problems.
It is a very complete package, containing everything you need to play your movies.
There are different packages. From small to extra-large.