Then I came across this new video player yesterday and I have to say, it's the best player I've tried. The UI is very slick and user-friendly, especially the file manager aspect. It also plays every file I've thrown at it (but haven't tried mkv's yet) and has both hardware and software decode mode. (Just remember to long press on video file to select software decode mode).
It's still in beta testing and says its limited to a certain number of testers but I was able to sign up directly from the app without issue. You have to provide an email address for testing purposes (I'm assuming) so if you're not comfortable with providing its, this app is not for you. But for me, it was a no brainer.
Should work on all high-end ARM V7 CPU Android devices
Would give credit but don't know who to give credit too. Will update when I do. Enjoy!