yxflash is the only player that actually plays different formats and best thing, I don't need to rescale movie to a different aspect ratio. It plays videos I downloaded from the torrent in regular AVI format to play on TV and yxflash played it no problem.
The negative site to the player is that it is not free.
Actually I was not sure how much they charge, now that you said that I think $10 is a ripoff for something that is still in development. Don't get me wrong it is the best player yet that I tried on Android OS, but it is still few milliseconds slower than the actual movie frames, it is still little lugy, and to pay for it $10 is just not right.