Here's how to stream video through the VLC Media Player and view subtitles at the same time using Firefox. This method is tested and it works.

1. Download the subtitle and put them in the folder that you're going to stream the video into. I got the subtitles HERE.
2. Go to the video and start downloading it using the Firefox add-on DownloadHelper.
3. This type of streaming works best if you start the download in DownloadHelper, then close the window that had the video download link. This will allow the video to actually start downloading.
4. Right click the video in the DownloadHelper window that popped open, and click on Open Containing Folder.
5. Double click on the video that has the avi.part file type, e.g. OneClickMoviez.Com-UveGotMail.avi.part
6. This will launch the VLC Media Player. Once the video starts playing, pause the video, and right click on the VLC Media Player. Mouse-over Video in the pop-up menu, mouse-over Subtitles Track in the secondary pop-up menu and click on Load File...
7. Double-click on the subtitles file you downloaded earlier. The name of the subtitles file does NOT need to match the name of the video. This is a nice feature in VLC Media Player.
8. Click the Play arrow on the VLC Media Player and enjoy the movie as it streams (i.e. downloads and buffers) while you watch it with subtitles.

Tips
1. You can change the Aspect-ratio of the video while it is streaming. Just right-click on the video while it is streaming (or for downloaded videos, while they are playing), mouse-over Video, then mouse-over Aspect-ratio and click on one of the ratios. Many TV video links are to videos that are incorrectly presented in 4:3. Switching the aspect ratio to 16:9 (or something else) will correct the aspect ration for video that is vertically stretched, or horizontally squished.

2. I find many videos are too dark on my monitor. It is easy to adjust the brightness in VLC. On the bottom the the Player's screen are a number of buttons. Clicking on the third button from the right will Show Extended Settings. Click on the Video Effects tab, then click on the Basic sub-tab. Put a check in the Image Adjust box. You can now adjust the image. I usually use the Gamma slider to lighten up the image. You can make all the adjustments you need while the video plays.

Here's a link to VLC's explanation on using Subtitles.

These sites are good for finding subtitles:
Where can I download subtitles?
DivxTitles.com
AllSubs.org

Thanks so much for posting this method. I've used it to watch 3 movies and I was able to watch some that I couldn't before because they normally take so long to load. With this method I can watch them as they are being loaded.

Thanks again. It works great!