I've tested 16:9 and 4:3 format with Splash Lite. Same settings, including Large for font. For 4:3 formats the subtitle is extremely small, even on a 19" monitor. On my LCD TV is barely readable. For 16:9 formats is perfect, on the monitor and on the LCD TV.
I've attached 2 screenshots:
The same applies for *.mkv, *.m2ts files of the same format.