Is there a player with these two options?

Run "Media Player Classic" or "Media Player Classic - Home Cinema" and use as your decoder. It has the "Picture Properties" option, which should offer exactly what your are looking for! You can also enforce ffdshow to work as a post-processor for any other decoder, if you don't want ffdshow to decode your source. BTW: Get rid of the crappy codec pack. MPC+ffdshow and maybe HaaliMediaSplitter is all you need...

Actually, to be fair, you don't even need MPC. Any directshow compatible player should work with what you want because the player only displays what the decoder (and post processor in the case of ffdshow) outputs.

Also MPC-HC now has a great number of "internal" filters, including all decoders and splitters you'll need for your daily playback needs. So you don't even need ffdshow or Haali nowadays, unless you need to use ffdshow's image processing capabilities. And there always are (S)MPlayer and VLC as an alternative to the DirectShow world. Both include various image processing filters...

I prefer KMPlayer especially for subtiles, and i think it's easier to handle as Videolan

With a codec pack you can also install exactly just those things that you need and nothing else. In one easy single step. Done more quickly.

The one and only install step (in 99,9% of all cases) is: Extract "mplayerc.exe" from the ZIP file to the desired directory. I wonder how a so-called "Codec Pack" can do this "more quickly" than 7-Zip does ...

Many of the internal filters of MPC are inferior to external filters, such as Haali splitter and ffdshow. Also, many people prefer to use another player, such as WMP. Yes, I know that is a POS, but the average Joe seems to like it for some odd reason. Furthermore, there are some popular audio formats that MPC doesn't support out of the box, like FLAC. So most people need to install at least a couple of things.

I did not insult LoRd_MuldeR, at least that was not my intention. I respect him, I just disagree on this subject. I was just stressing the fact that what he claimed to be a fact was in fact not a fact :) Last time I checked out KMPlayer, it came bundled with a lot of crap. It was even bigger than large packs. MPC suits my needs. KMP suits yours. Someone else might prefer VLC. It is a free world.

well yeah MPC is really nice....but it freezes randomly while seeking with Reclock, stays in memory as a process when you close it if you got strong ffdshow post-processing going. plus the playlist feature is so basic, just like the GUI. if you press the previous or next buttons in ZP or KMP, they open the previous/next files in the same folder....no such thing in MPC. you can disable all the internal filters in KMP....then it's cool, even if it loads slower than MPC...at least it "works". and the OP was asking about subs support, this is just crazy in KMP :D and the icing on the cake in KMP is the "seamless playback", you can have 100 files in the same folder and it will virtually paste them and read them w/o any cut. too bad Casimir(I know him from the french HCFR forum) only cares about DXVA to improve MPC HC, as it would really need other improvements :(

The simple GUI of MPC is one of the reasons I like it. I don't use Reclock or any extreme PP. MPC runs stable on my PC. I don't care about the playlist stuff, since I use Winamp for playing music. Different use cases, different needs, results in different preferences. Don't forget that Casimir does the development in his spare time. His ToDo list is huge with many suggestions piling up. I am sure many issues will get fixed and improvements made in the future. The stability issues are hard to fix because it is very difficult to reproduce them consistently.