Media Player1.0

Media Player is the best video player and music player for Android. It can handle all popular video and audio formats including:
Video: mp4, wmv, avi, mkv, dv, rm, mp, mpeg, flv, divx, swf, dat, h264, h263, h261, 3gp, 3gpp, asf, mov, m4v, ogv, vob, vstream, ts.
Audio: mp3, wma, ogg, mp2, flac, aac, ac3, amr, pcm, wav, au, aiff, 3g2, m4a, astream. Media Player finds all your videos automatically for you. Media Player saves your time and disk space to transcoding or format converting. Just put your video on sdcard or click the URL in browser to watch it.
Support sub: srt, ass, ssa, sub,txt, utf, smi, rt,aqt, jss, js, utf8, utf-8.
Media Player load external subtitle with same name of video automatically and support .m3u playlist. Media Player provides a powerful WiFi transfer function: Upload and download video files to/from your phone over a wireless connection.
WiFi Transfer is a light-weight web server that lets you upload and download files to/from your phone over a wireless connection. It doesnt require any special software on the computer so you can use it anywhere. Features:
1) Supports all video formats;
2) Hardware Acceleration Hardware acceleration can be applied to more videos with the help of new H/W decoder.
3) Mutil-Core Decoding Dual-core devices performance is up to 70% better than single-core devices.
4) Automatic identifiy all mobile phone video files;
5) Provides a wifi cable;
6) Supports HD videos and HD video playing memory optimization;
7) Playlists and continuous play;
8) Thumbnail displays of videos;
9) Delete, Rename, Play/Pause operations;
10) Codec Plugin.

Media Player 3.0.8

This player lets you listen to music and watch videos on android devices. Its most powerful feature is the huge number of formats that it supports mp4 wmv avi mkv divx swf dat h264 h263 h261 3gp. Ass ssa sub txt utf smi rt aqt jss js utf8 and utf-8 are compatible with media player. In a nutshell you can play practically any video and add practically any subtitle file on your device.

media player, in short, boasts an impressive list of compatible formats. There's a problem that its interface is pretty ugly and not particularly practical plus it has some stability issues. However while it may not be a good first option for playing videos it could be useful for playing files in less common formats.