Since installing Windows 7, I have not been able to use VMR9 Renderless as it uses the DirectX 9 DLL files, which Windows 7 is lacking of course. The quick solution to that is to download the D3DX9_41.DLL from d3dx9_41.dll free download - DLL-files.com
.Copy this file to where the MPC executable resides and you will be able to use VRM9 once again!
The following is a video showing how to do the above: http://www.youtube.com/watch?v=l4VnX49gIGA
(Skip to 51 seconds to get to the interesting bit)