Showtime Repack v3.1.241 (Unofficial Build) for PS3 Changelog:
Fix braindamanged coding. realloc() can actually move memory. yes.
Lang: Update Dutch translation
Text rendering: If characters spill outside REAL_DIM then extend the texture
Video player: Only allow seeking if seeking in file is fast
Lang: Update portuguese translation
Floating point audio output is broken for AAC+SBR. Avoid that for now
PS3-vdec: Don't use the _ex() version of codec query/open. It seems to mess things up
Lang: Update german translation
PS3: Fix 6.1 audio output (typically DTS-ES)
Lang: Update trad. chinese
Stay tuned for more PS3 Hacks and PS3 CFW news, follow us on Twitter and be sure to drop by the PS3 Hacks and PS3 Custom Firmware Forums for the latest PlayStation 3 scene updates and homebrew releases!
MKV DOES in fact play, the resolution and video quality itself is near perfect, if not perfect. But the rendering speed is quite slow, and the audio goes faster than the video causing it to go out of sync immediately. Also, subtitles are not supported.