gabest released an own opensource MP4 splitter useable in dshow players
it supports a lot of things already:
- mpeg-1, mpeg-2, mpeg-4 asp and mpeg-4 avc video
- mp1, mp2, mp3, aac audio
- advanced ttxt subtitles (together with vsfilter everything except scrolling and url linking), like karaoke, blinking etc...
- vobsub subtitles
- chapters
- tracknames and tracklanguages
- tags
edit: it doesnt support delays
get it
here