DivXLand Media Subtitler is the best alternative to subtitle all types of movies really fast and easily. Freeware and multilanguage, creating and editing subtitles was never so fun and easy.
-Added option to disable video stretching
-Added option to control which player controls are shown
-Moved the 'Change list font' item to the Settings menu
-Added Danish translation and French documentation
-Rebuilt Italian translation entirely
-Updated english, french, serbian and spanish documentation
Product page: here