I was one of the several people that have posted about
MM2 not saving the file after it's been edited. My
original problem was due to C-Media on the motherboard.
After uninstalling and disabling it, MM2 stoped working.
Thanks to a post from Matt B. I downloaded and installed
Windows Media Encoder and all is now working properly. If
you're experiencing this problem this is certainly worth
a shot.
http://www.microsoft.com/windows/windowsmedia/9series/enco
der/default.aspx
Chadd