Hmmm. The results were the following:
Video: divx5, 640x480, avi, 12.5 fps, 350 kbit/s
Audio: mp3, 64 kbit/s, mono, 48 kHz
Length: ~143 s, ~7.2 MB
Kernel: Tetsu 18a for C3000
Mplayer opts: -benchmark -nosound
Played from CF (SanDisk Ultra 1 GB)
91.888 s
Played from SD (Kingston MMC Plus 256 MB)
91.614 s
I would say, the results are exactly the same. The most important thing is the decoding of the video. Remember: The transfer of the 7 MB video takes 2-3 s from CF/SD to memory. That's nothing compared to the 90 s overall time.
Without the -nosound option the time is 144s for 143s video. This means that the Z cannot handle more video data than included in my test file.
After all I would say: It doesn't make a difference what kind of card you use for video playing.