TCPMP is one of the most popular media players for Windows Mobile, due largely to its Swiss Army knife features – it can handle almost any video you want to throw at it, as long as that video isn’t wrapped up in DRM. Unfortunately the free app also doesn’t handle H.264 — but the developers moved onto a commercial video player called CorePlayer a few years ago, and that version does support H.264 video playback
Development of the free version of TCPMP officially ended when CorePlayer launched, but third party developers still tinker with TCPMP. And xda-developers forum member bimbam69 recently released an updated build that adds support for subtitles, several new skins, and file formats including FLV1, FLV4, MKV v 2.0, and the latest version of FLAC audio.
One of the best things about TCPMP is that it supports every version of Windows Mobile from WM2003 through Windows Mobile 6.5. I’ve still got an aging Dell Axim X50v running Windows Mobile 2003SE lying around, and the bimbam69’s version of TCPMP runs perfectly on it.