Shai-Tan
Banned
MX Player is great, handled everything I've ever tossed at it. One thing I appreciate is its ability to handle subtitle files well, whereas when I had my iPad absolutely nothing could handle subtitle files without choking and skipping lines, wonder if that's better now.
It's definitely better than any of the ios video players but if you don't mind transcoding Air Video on ios can do subs without issues. AvplayerHD has the support, it's playback is just all over the place (maybe due to the slower CPU).