One of my regular readers CC send me a link to SMPlayer about a week ago and I was testing the frontend for mplayer since. SMPlayer is a video player that is supporting the most important video formats out of the box including avi, mpg, mov, wmv and vob plus numerous other formats.
It is also possible to play DVDs and Internet streams with the video player that is available for Windows and Linux. Several ways of displaying subtitles and various subtitle formats are supported including srt, sub and DVD subtitles. I personally think that SMPlayer is a great alternative to the VLC player.