My MacBook stopped being able to play video all of a sudden. HELP!

Hi, I've got a 2010 13" MBP with an SSD installed. It has all the latest updates including iLife '11 and M$ Office 2011.

I was watching videos in iTunes (music videos bought from iTunes store). As I went to play the next video, it wouldn't play; it just froze my computer. I did a hard rest and tried it with a few more, all of them froze my mac for about 30 seconds before playing.

My first thought was it was an IO wait and my SSD was playing up. So I checked the console and have being getting

NVDA(Video) Channel timeout!

Click to expand...

whenever I try to play a video.

Next step, I tried to play a video in iTunes and quicktime from an external hard drive with the same result, ruling out the SSD.
Please don't be my graphics card failing after only having the mac for 2 weeks, I was thinking!
It then occurred to me that it maybe a codec problem, so I tried playing videos in VLC (ones not purchased in itunes but producing similar playback problems) and they worked!

So, it's a software problem I think. What's my next step?

Thanks.

I'm posting here incase anyone Mroogles the same error in the future.

The problem I found was that the divX codec was causing the error. I have no idea why, I wasn't on any website that was using it, iTunes definitely wasn't using it and I don't know what triggered it to play up randomly.

So if you're getting a similar error/symptoms to me, trying uninstalling DivX (not just delete the component from application support for quicktime, that didn't work).