If this player would offer ISO playback it would be my media player of choice, the only other player I use at this time is VLC and sometimes SPLAYER*****HOWEVER***** nothing beats Splash for Hi def MKV playback. VLC has really slid down the hill.
No, you have to wait for upcoming versions. SplashBD can even play bluray
Only disc and for ISO, you have to use that. Win8 will support ISO too
Unfortunately, DVDs have separate 1GB vob files but possible to merge them