Media Center could probably play it back with their version of Media Player. You would think it comes with software. It's tough to say. Hauppauage provides a decoder free for download from their support site. If for some reason that doesn't work or you don't like it, at least 2 other free ones (Intervideo, Cyberlink) that are available as well. I like InterVideo a lot. PowerDVD is another good one.
Oh, it DOES NOT come with a decoder to view contents. I just looked it up. You need a third party software as I mentioned above to work.