I have a slight word of warning to those considering OVP as a 1:1 replacement for the stock player.

OVP uses texture streaming to render the video, wheres the stock player uses a video overlay. Easy way to detect that is to swipe the window, and if the video content moves with the window, it's using texture streaming. If the video content doesn't move, it's using the overlay. Gallery also uses texture streaming BTW.

The major drawback of texture streaming is that it's less efficient than the overlay path. You can easily just check 'top' output during playback, and you'll see that with texture streaming the CPU alone is significantly more busy than with the overlay path, most of which can probably be attributed to driver overhead. There's also the fact that with texture streaming there is more memory traffic.

The energy profiler can be used to check the difference in power consumption. I did a quick test by playing the same h264 clip in each of the players. The power readings were ~1.0 W for the stock player, and ~1.2 W for OVP. It's not quite as bad as I feared, but it would still mean ~1h extra playback time with the stock player with this clip. Assuming I can trust what the energy profile tells me.