Everyone is slow working with these files and I believe it's because Microsoft isn't very helpful. If you read the Videoredo forum you'll see Dan (moderator) recently posted that they put working on wtv files on hold to work on h.264 because they were having so much trouble with wtv. He didn't elaborate but other companies are definitely finding roadblocks working with it. Now that W7 is out, I'm hoping we'll see some movement.
In the meantime, you might try
this suggestion. I get lucky sometimes and it works.