Is the file hardsubbed or soft subbed?

I'd use VLC or CCCP. Both should be able to read the softsubs, if there are any.

CCCP is awesome, however, I've had some problems when playing older dvd-rips.

I was watching this dual-audio rip of Body Transfer (hentai, you have been warned), and realized default audio was changed to english, and it didn't even give the option of changing the audio back to japanese (the way it showed, seemed like japanese audio track didn't exist), when I know its dual audio cause I listened to it in japanese in VLC. Its not the only one, and everything else works fine, but it just shows CCCP isn't perfect (though its bloody good).

And my CCCP is the latest when I downloaded it about 1 and 1/2 weeks ago, so its not a problem of outdated codecs.

Funny thing, a reinstall of CCCP cleared everything up. It all opens fine in MPC.