We will start our journey on Nero's 7 Premium Video features with Nero ShowTime 2.

Nero ShowTime 2: With Nero ShowTime 2, you can play all of your digital media files (e.g. movies, TV programs, home videos, DVD-Videos, etc.) with excellent picture and sound quality.
The integrated Nero Scout technology now provides fast access to all media files.

Nero ShowTime 2, for playing media files

• Support for Nero Scout
• Support for H.264/AVC playback
• Playback media from Nero MediaHome with excellent sound and video quality
• Improved H.264/AVC playback with 20-30% speed gain
• Playback of Blu-Ray Video with menu

As we can see from the features list, Nero Showtime has support for H.264/AVC playback and playback - for the next generation disk format - Blu-Ray video. These features are very important, more so for the future since not a lot of users are going to use them for now.