I've definitely heard about this problem before, and experienced it for myself. Very annoying..
As far as I remember, MP hangs on tracks, and especially when you click to load a specific part of a TXT tracksheet it will delay and then cutoff the first measure or so or the individual MIDI in the soundtrack MIDI.
The reason? I think it has to do with XP and fast operating systems.. Horton designed this proggie for use under Win 95. Times have changed since then.. I suppose noone's ever asked the guy for a new version.
Hey, this looks Australian! Great. Another fine contribution to the community from the Land Down Under.

I'm gonna send this guy an email tomorrow.. I'll let ya know if anything transpires.
But IMO, WinAmp is a good player for complete soundtrack MIDI's.. if you have the track sheet you can tell what place to move the slider to if you're after a specific track, for example.
- Alistair