R
So, which is a best /your preferred video player to play 720p/1080p.
Best software for 720p/1080p videos.
VLC or MPC both are good.
yep its still VLC
I prefer KMPlayer for all kinds of videos.
MPC HC (Media Player Classic HomeCinema) has a big advantage over other players because of its DXVA support for H.264 and VC-1 videos. What this means is that it is able to transfer the load of decoding H.264 format videos to the GPU (Most 720p and 1080p videos are encoded using H.264). This reduces the load on the CPU by a great margin. For example, my CPU usage when playing 1080p videos without DXVA revolves around 60%, but it's around 25% with DXVA enabled.
MPC HC (Media Player Classic HomeCinema) has a big advantage over other players because of its DXVA support for H.264 and VC-1 videos. What this means is that it is able to transfer the load of decoding H.264 format videos to the GPU (Most 720p and 1080p videos are encoded using H.264). This reduces the load on the CPU by a great margin. For example, my CPU usage when playing 1080p videos without DXVA revolves around 60%, but it's around 25% with DXVA enabled.
vlc player 1.1.0 and newer supports dxva acceleration too! 
T
bs player is excellent. Vlc sometimes goof up the rendering.
+1 for KMPlayer...