OK, so after digging in the options i have discovered that when using the "Internal renderer DirectShow surface" rendering mode (under Video->Video Rendering) and move the subtitles down below the image (by Shift+down arrow) - this accomplishes what i wanted.
The player seems to remember the subtitles shifting position which is good and that solves the problem.
But the bug remains because the EVR renderer worked quite well and no manual shifting was required (when using the option from my previous post).
p.s.
I'm using Windows 7 Home premium (with Aero enabled of course).
Also does anyone know what is the difference between those two renderers?
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