AVI file info now shows the FOURCC of the video stream.
The "display decompressed output" option can now be enabled and disabled in the middle of encoding.
Improved playback timing.
Added /hexview command-line flag to open a file in read-only mode.
Added /noStupidAntiDebugChecks for development purposes.
Added "warp resize" video filter.
The "resize" video filter now allows editing the frame height with an aspect ratio constraint active.
Ctrl+Drag in the audio display modifies the audio displacement.
Added an option to create several types of diagnostic test videos.
Added Y800 as a synonym for Y8.
Added support for the 4:4:4 planar YCbCr "YV24" format.
Added animated GIF import.
D3D: UYVY, YUY2, YV24, YV16, YV12, I420, and YVU9 video display is now accelerated in Direct3D mode.
D3DFX: Added additional support for field-based display shaders.
Capture: Added a new screen capture driver.
Capture: Added configurable hotkeys for stopping and starting capture.
Capture: DirectShow filter graph build errors are now noted in the log window.
Capture: Full-screen mode now auto-hides mouse cursor.
Capture: Added UI for modifying DirectShow brightness, contrast, gamma, sharpness, and hue settings.
Capture: Audio playback setting is now auto-saved.
About:
VirtualDub is a video capture/processing utility for 32-bit Windows platforms (95/98/ME/NT4/2000/XP), licensed under the GNU General Public License (GPL). It lacks the editing power of a general-purpose editor such as Adobe Premiere, but is streamlined for fast linear operations over video. It has batch-processing capabilities for processing large numbers of files and can be extended with third-party video filters. VirtualDub is mainly geared toward processing AVI files, although it can read (not write) MPEG-1 and also handle sets of BMP images.
An exciting history of VirtualDub startup can be found here.