Weird
I have e4300 (overclocked to 2,7GHz) with Vista64, 8800GT and 2GB RAM.
When I tried to play Transformers.2007.1080p.HDDVD.x264-hV.mkv on beginning scene (with cube spinning from space) movie transformed to slideshow and sound was 10 sec behind picture.
I tried warious codecs, players, nothing worked. From sidebar I saw movie always used only one core.
Then I reinstalled Vista and installed ONLY VLC from 0.86. series. No tweaks, no default changes and movie played perfectly. CPU load was 30-50%, both cores used. I don't know if GPU kicked in, but movie was perfect.
Now I'm using Dell Inspirion 1520 with XP SP3 (fresh instalation). Just for test I played this movie again from USB drive and again I have absolutely no problem. Both cores used, CPU load form 20-70%, even in beginning scene. I'm using 0.9.0 on laptop.
I tried one another laptop (HP with around 14" monitor) and celeron 1,7GHz processor. Fresh installed XP SP2. I tried several 720p movies (from 4,5 to 8 GB in size) and they all played ok, CPU load from 60-90%, picture almost never freezed. I used portable VLC from 0.86 series, I don,t remember version.
Looks like using other players with load of codecs spammed into system corrupts VLC.
I'm not using ANY other player, not even PowerDVD, since 0.9.0 handles even DVD well. If anyone have issue with playing HD movies in VLC, try to clean system first, throw all other codec packs to garbage with good uninstaller and try to get rid of all codec settings left from other players.