Hmmm... my 0.02:

TCPMP was an amazing program that really was the only thing besides EasyCalc that made me hold on to my Palm Zire72 as long as I did. I could download almost any movie/media file and put it on my media card and TCPMP would play it without (in most cases) breaking a sweat. Even high-bitrate/fast action sequences rendered beautifully. I never had to worry about optomizations or how large I coded my videos.

Despite all this, we definitely don't need to port over the entire application. But adding some of these features (equalizer, preamp, and automatic frame dropping/resizing) would make mplayer so much more amazing re-encoding videos just so I can watch them on my tablet is a pain in the butt.

@Serge - TCPMP has a really nice built in benchmarking tool On the Palm it's available from the "File" menu. It'll play back the current media file as fast as possible on your device and display the output

PS: I'm still looking for a good replacement for EasyCalc