You can play H.264, MPEG-2, M-JPEG, DVCPRO HD, MXF, MP4, QuickTime and a bunch of other industry standard formats and network streams like RTMP, RTSP, UDP and others with MPlatform SDK, MFormats SDK or Multi-Format DirectShow Source filter (MFS).
In general, decoding is based on FFmpeg components. You can find a list of formats and codecs supported on FFmpeg.
We have our own MXF support and also MPEG-DASH streams support for playback.
All the decoding components are included into a product package and you don't need any external decoders of splitters for playback. And even if you have some codecs installed on your machine there is no interference between Medialooks decoding components and third-party codecs.