I've been seing this ever since MC went over to the Red October engine on my machine. Subtitles appear late, stick on screen for too long, and then maybe 10 seconds later catches up and throws up another subtitle. In the meantime we might have missed one or two subtitles.
I'm wondering if anybody is seeing this? I am tempted to think it's my now 5 year old VAIO intel celeron processor, though when I've looked at task monitor it doesnt show much processor activity. Almost all of my files are standard definition h.264 ac3 passthru mkvs with embedded japanese idx/sub pairs.
I'm thinking of upgrading to a mac mini with bootcamp on the next hardware refresh, though I'd be gutted if the issue weren't hardware related.