Since I started this thread I've worked at trying to find a better solution playing subtitles during Netflix Watch Instantly.
I couldn't make my 2hour AVI of black frames any smaller, but, when it's zipped it's only about 400k! I've made it available for download.
http://farmerjoe.org/alldeaf/blackframes.zip
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I've also found a program called SubStitler. It dosn't work as well as I would like, but it might work better for people who don't have a powerfull enough CPU or video card to use Media player classic. (my old 1ghz sony viao laptop can't play the subtitles with media player classic, and netflix movies at the same time. Unfortunately using SubStitler wasn't enough to fix that problem.)
zuggyWu:d