I always liked the way VirtualDub works to remove frames from an AVI file. I wonder about a thing ... please tell me if it's possible

I captured a MPEG-2 file with my ATI AIW 8500DV and I need to remove some frames before encoding. I downloaded VirtualDub MOD that allows VirtualDub to work with MPEG-2 files. If I open that file in VDub, then cut the scenes I want to cut, set Audio and Video to direct stream copy then save the file with .mpg (or .mp2) extension, will I obtain a readable MPEG2 edited file that I can use with DVD2AVI, for example ? Thanks in advance !