AcePlayer can play almost any file format movies and streaming directly on iPhone/iPod/iPad. Just transfer the media files to your ios devices by iTunes File Shareing or over Wi-Fi,then it can be played at once. With built-in downloader and FTP/Samba client, it is not just a local movie player,it is "Movie Player & Downloader & Streaming Media Player" in fact. You can also stream/download media files from most of all UPnP/DLNA media servers to your ios devices.
I put my Flacs on my device and play them through my car stereo, sounds good.
Thanks for the post.
This player looks promising.
Some other good players out there:
VLC
Infuse
AVplayer HD