Panasonic has a P2 viewer that you can download. It is not easy to use nor is the quality representative of the output. You need the files to be in the Blu-ray filestructure to work.
If you have Sony Vegas, you could download the Raylight demo. Then you could view the files within Vegas.
I was just thinking about the same thing.
What happens if you HAD an HVX200, but now sold it because of the high cost of P2.
Then you need to look at some old footage in P2 format.
Obviously you no longer have the P2 software installed, and from what I remember, you need
to have either a P2 card in the slot, or the camcorder hooked up to load the drivers for playback.
So where does that leave those who have multiple P2 archives?
I am pretty sure Adobe CS4 will play it, but is that the only way to play back files?
An editing package is not the easiest thing to load when you just want to watch a few P2 clips.
I don't know if this is helpful -- it's not a "stand alone."
The "Media Browser" (separate and different from the "project panel") inside Premiere Pro CS4 displays a thumbnail of each file -- and you can easily drag them on to the timeline for real time play back.
Certainly, I too would be interested in a codec or other "stand alone" solution for .MXF video/audio files.
If you use the p2 viewer, you can go to tools -> setting virtual P2 cards.
Click on the little folder and browse to the contents folder of your dvcpro converted files.
They should show up on the main screen to be viewed.