The infrared imaging video bolometer (IRVB) used for measurement of the two-dimensional (2D) radiation profiles from the Large Helical Device has been significantly upgraded recently to improve its signal to noise ratio, sensitivity, and calibration, which ultimately provides quantitative measurements of the radiation from the plasma. The reliability of the quantified data needs to be established by various checks. The noise estimates also need to be revised and more realistic values need to be established. It is shown that the 2D heat diffusion equation can be used for estimating the power falling on the IRVB foil, even with a significant amount of spatial variation in the thermal diffusivity across the area of the platinum foil found experimentally during foil calibration. The equation for the noise equivalent power density (NEPD) is re-derived to include the errors in the measurement of the thermophysical and the optical properties of the IRVB foil. The theoretical value estimated using this newly derived equation matches closely, within 5.5%, with the mean experimental value. The change in the contribution of each error term of the NEPD equation with rising foil temperature is also studied and the blackbody term is found to dominate the other terms at elevated operating temperatures. The IRVB foil is also sensitive to the charge exchange (CX) neutrals escaping from the plasma. The CX neutral contribution is estimated to be marginally higher than the noise equivalent power (NEP) of the IRVB. It is also established that the radiation measured by the IRVB originates from the impurity line radiation from the plasma and not from the heated divertor tiles. The change in the power density due to noise reduction measures such as data smoothing and averaging is found to be comparable to the IRVB NEPD. The precautions that need to be considered during background subtraction are also discussed with experimental illustrations. Finally, the analysis algorithm with all the improvements is validated and found to reproduce the input power well within 10% accuracy. This article answers many fundamental questions relevant to the IRVB and illustrates the care to be exercised while processing the IRVB data.