My next task was to find something suitably powerful to replace it... and use Open Source if possible. Luckily I was to find it in Sompy Media player, a GNU aware Media Player.
Sompy proposes not only a media player but most importantly, a Movie encoder as well, both of them free. For a start, Sompy Media player has built in Codecs for video files, MP4 files, AAC files and much more. It is small and plays movies really well.
The interface is quite simple to grasp and the few functions offered include zooming and the ability to control the speed of the film.
As for the SOMPY Movie Encoder, it allows you to convert video files into a smaller format. For example, the maximum resolution that most PDA screens can achieve is 320x240. By converting movies to this format, you can easily divide the size of a file by five or six.
A 100 minute movie for example went down from 600MB to 110MB. Cutting down on the weight also helps in making the movie run more smoothly as the PDA processor has to render less information on screen.