Media Player Classic Home Cinema
In "Subtitles" / "Texture settings" put "Sub pictures to buffer :" on 10, check "Allow animation when buffering" and "Round up to power of two". Put your TV resolution in "Maximum texture resolution :". If you have any jerkiness when the subtitles appear or the subtitle flicker, then uncheck "Allow animation when buffering". If it doesn't solve your problem you will need to display the subtitles with ffdshow because the management of subtitles with MPC-HC is resources consuming.
In "Default Style" / "Font" choose "Arial" (for example), the size which suits you (for example 20) and below "DEFAULT (1)". Select the intermediate state of the checkbox "Position subtitles relative to the video frame" in "Screen Alignment & Margins" to display subtitles partly on the black band.
In "Misc" you can choose how the subtitles loads. For always load external subtitles check "Prefer external subtitles over embedded subtitles". "Ignore embedded subtitles" will not load internal subtitles. "Autoload paths" allow you to select the directories in which are your subtitles.