I just discovered one work around for TCPMP playing video on the Tilt / HTC Kaiser to make it less of a jumbled mess:
(1) Options -> Video -> Video Driver: GDI (or Raw Framebuffer); not DirectDraw.
(2) Options -> Video -> Quality -> Low
Since the ROM video drivers are crap, this avoids the frame drop. The video I watched didn't get out of sync with the audio anymore (good) but hit occasional fuzziness due to the lower quality setting.
So that works for TCPMP. I didn't see anything off-hand for Windows Media Player.
Source: AT&T Tilt: Poor video performance - AT&T/Cingular (HTC) - Wireless Forums from AT&T.
Oh, and if you're a Tilt / HTC Kaiser owner and not happy about the choppy video and want a small moment of relief: HTC TyTN II Video Driver Petition. And seek solace on the XDA thread: Petition opened for HTC - 2481 signatures - spread the word - xda-developers.
