It has capabilities for video capture from various sources, external audio synchronization, and subtitles. You can also add logos and watermarks, and take screen captures.
Another feature, also included in VLC, is a function to convert multimedia formats and recover and play damaged videos.
You can use it to play all main audio and video formats, including MP3, AVI, WAV, DVD, MKV, FLV, and FLAC, without needing to install any extra codecs.
ACE Stream plays high-quality streams, almost always in HD format. It's an excellent choice if you're looking for a new multimedia player.