It would seem then that your cpu is doing all of the work and like b|gf|sh says you need to offload that to the gpu. Try uninstalling CoreAVC and install something like the cyberlink h.264 codec that I mentioned earlier. This should work with media player/centre too no problem as well. That, Haali and the right audio codec should be all you need to play that file without issues.
Tried that and it plays the 1080p clips just about with a small amount of jerkiness but not the 11gb movie file. It doesnt load the movie file at all. Ive uninstalled core avc as well completely. Is that version of ATI catalyst the latest one or do i need a newer one?