Omxplayer

Omxplayer is a video player specifically made for the Raspberry PI's GPU made by Edgar (gimli) Hucek from the XBMC project.

RaspberryPI forum user spenning made precompiled binaries available on the forum see here.

No rights to VCHIQ
On bare installations of the default distributions Omxplayer often has insufficient permissions to access /dev/vchiq. One solution would be to run omxplayer as root, but a nicer solution is to add a udev rule so that /dev/vchiq is also accessible from other users. To accomplish this, do the following under root: Now add yourself to the group named 'video': Reboot the Raspberry and you should be able to run omxplayer without the vchiq-error showing up.
 * 1) echo 'SUBSYSTEM=="vchiq",GROUP="video",MODE="0660"' > /etc/udev/rules.d/10-vchiq-permissions.rules
 * 1) usermod -aGvideo USERNAME

HDMI
When using HDMI make sure to pass '-o hdmi' to omxplayer if you want the audio to playthrough the HDMI cable: omxplayer -o hdmi videofile.mp4

Helpful Links

 * Successful Raspberry Pi 1080p blog, Start->Finish
 * How to install Debian Raspberry Pi