Here's what worked for me on Windows 2000, Ulead VideoStudio 7.0 Trial:

Go to your installation directory (in my case, D:\Program Files\Ulead Systems\Ulead VideoStudio 7 Trial). Please pay attention to the exact filenames, as they are similar.
Rename uviplM5.dll to uviplM5.dll.backup and make a copy of uviplPX.dll. Rename that copy to "uviplM5.dll". Basically, you're replacing the M5 with a copy of PX, but you're also making a backup copy of the original M5 just in case.

If that still doesn't work, put back M5 the way it was, and do the same procedure, but now for uviplP5.dll (rename to .backup, make a copy of PX, rename it to P5).

And if that doesn't work, sorry, you might be out of luck, unless you understand the following explanation of how I dug this out and you can expand on it:

1) Fact: uvipl.dll has the iplGetLibVersion export, but the file is tiny. Assumption: It's probably just a dispatcher.
2) Fact: uvipl??.dll are much larger. Assumption: Given the export and file names, they're probably architecture-optimized mathematics libraries.
3) Assumption: P5 and P6 refer to Pentium and Pentium Pro architectures, respectively, while PX hopefully refers to a generic architecture. PX can therefore replace any of the others.
4) Fact: uviplM5 and uviplP5 are the only ones missing the iplGetLibVersion export.
5) Fact: On my system, as reported by Filemon (www.sysinternals.com) VideoStudio looks for uviplM5.dll.
6) Fact: As soon as I replaced uviplM5 with PX, VideoStudio started up nicely!

Good luck and please write - mcpatulc@hotmail.com