Is there a solution for poor Acer Iconia A500 playback of MP4 video? When playing back MP4 video files my Acer Iconia A500 will drop frames and produce video artifacts. Does it just not support MP4, or is there a better MP4 player I can download?

Update: Turns out it was just an issue with 1080p video. 720p video plays back great.
You could give a try to a pre-alpha version of VLC. Be warned this is not a finalized application and there might be errors, but it's still worth a try.