In todays generation videos are too much popular and are viewed worldwide on mobiles via many third party application one of them app is mx player. I agree that it supports all video format but I found that it doesnot support all audio codecs. I played the video with .amr audio codecs it doesnot support at all. the video was playing but did not get any audio through out the video. while playing hd videos via software rendering the video output is laggy and did not get video fitted with audio.
keep in mind before downloading this video player or instead of it download km player.
I will recommend this app but choices differ person by person.