diff --git a/multimedia/libmpeg2/Makefile b/multimedia/libmpeg2/Makefile
index 04c3d2bf02ae..f54fb7699220 100644
--- a/multimedia/libmpeg2/Makefile
+++ b/multimedia/libmpeg2/Makefile
@@ -6,8 +6,7 @@
 #
 
 PORTNAME=	libmpeg2
-PORTVERSION=	0.2.1
-PORTREVISION=	1
+PORTVERSION=	0.3.1
 CATEGORIES=	multimedia
 MASTER_SITES=	http://libmpeg2.sourceforge.net/files/
 DISTNAME=	mpeg2dec-${PORTVERSION}
@@ -18,7 +17,10 @@ USE_XLIB=	yes
 USE_LIBTOOL=	yes
 USE_REINPLACE=	yes
 
-CONFIGURE_ARGS= --enable-shared
+CONFIGURE_ARGS= --enable-shared \
+		--with-x
+
+MAN1=	extract_mpeg2.1 mpeg2dec.1
 
 .ifdef(WITH_MGA)
 CONFIGURE_ARGS+=	--enable-mga
@@ -49,15 +51,8 @@ pre-everything::
 post-patch:
 	@${REINPLACE_CMD} -e 's|<SDL/|<SDL11/|' ${WRKSRC}/libvo/*
 	@${REINPLACE_CMD} -e 's|-O3||;s|<termio.h>|<termios.h>|' ${WRKSRC}/configure
-
-post-configure:
-	@${CP} -f ${LOCALBASE}/bin/libtool ${WRKSRC}
-	@${CHMOD} u+w ${WRKSRC}/libtool
-# Libtool fix code kindly provided by Mr. Maxim Sobolev <sobomax@FreeBSD.org>
-	@${REINPLACE_CMD} -E \
-		-e 's|^deplibs_check_method=.*|deplibs_check_method=pass_all|; \
-		s|(install_ltlibs=)yes|\1no|' \
-		${WRKSRC}/libtool
+	@${REINPLACE_CMD} -e 's|[(]libdir[)]/pkgconfig|(prefix)/libdata/pkgconfig|g' \
+		${WRKSRC}/libmpeg2/Makefile.in
 
 post-install:
 .ifndef(NOPORTDOCS)
@@ -65,5 +60,7 @@ post-install:
 	@${INSTALL_DATA} ${WRKSRC}/doc/libvo.txt ${DOCSDIR}
 .endif
 	@${INSTALL_DATA} ${WRKSRC}/libvo/libvo.a ${PREFIX}/lib
+	@${INSTALL_DATA} ${WRKSRC}/include/video_out.h \
+		${PREFIX}/include/mpeg2dec
 
 .include <bsd.port.mk>
diff --git a/multimedia/libmpeg2/distinfo b/multimedia/libmpeg2/distinfo
index 5cee8d734679..34c77050b7c3 100644
--- a/multimedia/libmpeg2/distinfo
+++ b/multimedia/libmpeg2/distinfo
@@ -1 +1 @@
-MD5 (mpeg2dec-0.2.1.tar.gz) = f63e94ed74b0b5f2d6e32baba2963b4a
+MD5 (mpeg2dec-0.3.1.tar.gz) = e9f899d232eee5e7282c9c96ffde8016
diff --git a/multimedia/libmpeg2/files/extra-patch-libvo::configure.incl b/multimedia/libmpeg2/files/extra-patch-libvo::configure.incl
index 420ea51ffc73..bc40a7cd0c8f 100644
--- a/multimedia/libmpeg2/files/extra-patch-libvo::configure.incl
+++ b/multimedia/libmpeg2/files/extra-patch-libvo::configure.incl
@@ -1,12 +1,12 @@
---- libvo/configure.incl.orig	Wed Apr 24 16:24:31 2002
-+++ libvo/configure.incl	Wed Apr 24 16:28:47 2002
-@@ -35,11 +35,11 @@
+--- libvo/configure.incl.orig	Wed Jan  1 17:02:31 2003
++++ libvo/configure.incl	Wed Jan  1 17:04:32 2003
+@@ -50,10 +50,10 @@
  dnl check for SDL
  AC_ARG_ENABLE([sdl],[  --disable-sdl           make a version not using SDL])
  if test x"$enable_sdl" != x"no"; then
 -    AC_CHECK_PROG([SDLCONFIG],[sdl-config],[yes])
 -    if test x"$SDLCONFIG" = x"yes"; then
-+    AC_CHECK_PROGS([SDLCONFIG],[sdl-config sdl-config11],[no])
++    AC_CHECK_PROGS([SDLCONFIG],[sdl-config sdl11-config],[no])
 +    if test x"$SDLCONFIG" != x"no"; then
  	AC_DEFINE([LIBVO_SDL],,[libvo SDL support])
 -	LIBVO_CFLAGS="$LIBVO_CFLAGS `sdl-config --cflags`"
@@ -15,4 +15,3 @@
 +	LIBVO_LIBS="$LIBVO_LIBS `$(SDLCONFIG) --libs`"
      fi
  fi
- 
diff --git a/multimedia/libmpeg2/files/patch-configure b/multimedia/libmpeg2/files/patch-configure
index 61f80ef9b1bd..82720aec8bb9 100644
--- a/multimedia/libmpeg2/files/patch-configure
+++ b/multimedia/libmpeg2/files/patch-configure
@@ -1,16 +1,16 @@
---- configure.orig	Wed Apr 24 16:42:58 2002
-+++ configure	Wed Apr 24 16:43:14 2002
-@@ -2546,13 +2546,6 @@
+--- configure.orig	Wed Jan  1 17:05:17 2003
++++ configure	Wed Jan  1 17:05:42 2003
+@@ -3281,13 +3281,6 @@
  #define ARCH_X86
- EOF
+ _ACEOF
  
--	case "$host_alias" in
+-	case "$host" in
 -	i386-*) OPT_CFLAGS="$CFLAGS -mcpu=i386";;
 -	i486-*) OPT_CFLAGS="$CFLAGS -mcpu=i486";;
 -	i586-*) OPT_CFLAGS="$CFLAGS -mcpu=pentium";;
 -	i686-*) OPT_CFLAGS="$CFLAGS -mcpu=pentiumpro";;
 -	k6-*)   OPT_CFLAGS="$CFLAGS -mcpu=k6";;
 -	esac
- 	echo "$as_me:2556: checking if $CC supports $OPT_CFLAGS flags" >&5
+ 	echo "$as_me:$LINENO: checking if $CC supports $OPT_CFLAGS flags" >&5
  echo $ECHO_N "checking if $CC supports $OPT_CFLAGS flags... $ECHO_C" >&6
      SAVE_CFLAGS="$CFLAGS"
diff --git a/multimedia/libmpeg2/files/patch-libvo::video_out_mga.c b/multimedia/libmpeg2/files/patch-libvo::video_out_mga.c
deleted file mode 100644
index de4311be570e..000000000000
--- a/multimedia/libmpeg2/files/patch-libvo::video_out_mga.c
+++ /dev/null
@@ -1,18 +0,0 @@
---- libvo/video_out_mga.c.orig	Thu May  2 22:30:47 2002
-+++ libvo/video_out_mga.c	Thu May  2 22:31:13 2002
-@@ -44,6 +44,7 @@
- #include "attributes.h"
- #include "mmx.h"
- 
-+#if 0
- static void yuvinterleave (uint8_t * dst, uint8_t * pu, uint8_t * pv,
- 			   int width)
- {
-@@ -85,6 +86,7 @@
- 	dst += bes_stride;
-     } while (--i);
- }
-+#endif
- 
- static void yuv2g400_c (uint8_t * dst, uint8_t * py,
- 			uint8_t * pu, uint8_t * pv,
diff --git a/multimedia/libmpeg2/pkg-plist b/multimedia/libmpeg2/pkg-plist
index 5789dab72eb6..5b86a8af9e53 100644
--- a/multimedia/libmpeg2/pkg-plist
+++ b/multimedia/libmpeg2/pkg-plist
@@ -1,17 +1,14 @@
 bin/extract_mpeg2
 bin/mpeg2dec
-include/mpeg2dec/attributes.h
-include/mpeg2dec/mm_accel.h
-include/mpeg2dec/mmx.h
+include/mpeg2dec/convert.h
 include/mpeg2dec/mpeg2.h
 include/mpeg2dec/video_out.h
-lib/libcpuaccel.a
-lib/libcpuaccel.so
-lib/libcpuaccel.so.0
 lib/libmpeg2.a
 lib/libmpeg2.so
 lib/libmpeg2.so.0
 lib/libvo.a
+libdata/pkgconfig/libmpeg2.pc
 %%PORTDOCS%%share/doc/libmpeg2/libvo.txt
 %%PORTDOCS%%@dirrm share/doc/libmpeg2
+@unexec rmdir %D/libdata/pkgconfig 2>/dev/null || true
 @dirrm include/mpeg2dec