New ipad to watch movies with subtitles
I am going to buy the new ipad because I need a tablet to watch movies (in general TV series) with subtitles.
Among all tablets I have seen, new ipad is the one with the best screen and therefore I decided to buy it.
I have read that unfortunately ipad does not support avi and mkv. I know that there are some apps (such as aviplayerHD which permit to watch videos with these formats) or it is possible to convert them.
I would like to know if:
1) with both the methods (apps and conversion) is the overall quality of movies lost? because if I can watch only downscaled quality movies is it worth buying new ipad since I am buying it only to watch movies with its brilliant screen?
2) is it possible watching movies with subtitles? does it create problems?
3) does the conversion (from mkv or avi to apple supported format) require long time? "long" is around an half of hour. And which is the average time of conversion for a 1 hour length movie whose original format is mkv?