Do you have a source for this? All the reviews I have read claim that 1080p playback on the RPi is smooth.
Part of why I use XBMC is because it will play almost anything you throw at it. Sticking it on extremely resource constrained hardware gets rid of that feature.
Waiting with baited breath for mine to turn up! :-)
However, it was very naive of the grandparent poster to think that slow CPU powered menu screens means that the hardware accelerated video is lacking.