When I play back MPEG-1 files via MediaPlayer 7.1, about
1 in 5 or so frames are dropped, and this makes the motion
non-smooth at times (I verified this by adding frame
numbers to each frame with VirtualDub, then playing
back via the TV-Out into a VCR, recording, then stepping
through the videotape). I downloaded the Cinematograph
video player and have the same problem. Can someone
suggest a good MPEG player that doesn't drop frames?

My system in 1400 MHz Athlon, 266 FSB, 7200 RPM disks,
Matrox G450 Dual Head video card. I am able to play DVDs
smoothly with the Matrox software (so hardware limits are
probably not the problem).