I bought one of the LOST episodes in iTunes movie store to confirm that eo V7110 and iTunes movies are a waste of money. No matter what I did to tweak QuickTime, it's performance is choppy. It works better than what I experienced playing a movie preview within iTune but still not a good experience.
So eo v7110 owners, do not waste your money in iTunes movies. QuickTime and Amtek T700 are just a bad marriage... thanks to VIA video drivers I should add. The Amtek T700 aka eo V7110 has enough recourses -including 64 MB of shared video memory - to play movies no matter what program is used.
Update: Somebody (Jeff from LA) has pointed me that probably the problem here is QuickTime and iTunes that are very well known resource suckers. And I would say that probably are both, Apple and VIA the cause of this issue in Amtek T700. The reason why I blame on VIA drivers is because for example, PowerDVD and WinDVD have the same problems if they are using filters that are not prepared to use VIA video drivers. I think that that's one of the problem here. Quicktime can't use any of the hardware capabilities of VIA video chip.