Subtitles:
To see subtitles you must rip them with SubRip (recommended) or make VobSub run with BSPlayer (the easy way). Refer to this topic:
http://forum.bsplayer.org/viewtopic.php?t=5585 Sound:
Get GSpot Beta:
http://www.headbands.com/gspot/gspot252dl.html
Run the movie with it, and see what codec is written in "audio" --> "codec" section. You will need to install a decoder to it.
If it's AC3 get AC3 direct show filter here:
http://ac3filter.sourceforge.net/