Hey this is not related to your problem but whats with the two wires at the bottom? are they coming out of the player?
With the lag maybe because of hacked firmware or a bad firmware on the player. To find out if it is a hacked firmware check out this page
http://www.mympxplayer.org/how-to-re...ck-vt2400.html
i would suggest a firmware upgrade but since I'm sure your player is running a sunplus chip i strongly recommend staying away from upgrading the firmware as there would be little chance of repairing it if anything was to go wrong.
Sorry i couldn't do anymore for you maybe someone else is able you help you.