My 2006 Mac Pro stutters terribly trying to play this, but Activity Monitor shows only 30% of my CPU being used.
Can your iMac play the 4k trailer? Please also list the percentage of CPU being used as well as the year your machine was manufactured.
http://www.hd-trailers.net/movie/elysium/
My Test
Machine: Early-2011 2.2 GHz Quad-Core 17“ MBP (Sandy Bridge)
GPU: Intel HD Graphics 3000 IGP (via gfxCardStatus v2.1)
Software: VLC v2.0.7 (64-Bit version) on Mac OS X 10.6.8 (64-Bit kernel)
VLC CPU time: Up to 200 % (average ≈ 170 %)
VLC was in the foreground. Some apps open, which used ≈ 50 % CPU time in the background. ≈ 1 GB of 16 GB RAM free.
VLC preferences:
(Input / Codecs ->) File caching: 3000 ms (3 seconds)
(Video ->) Drop late frames: YES
(Video ->) Skip frames: NO
(Video ->) Video output module: Mac OS X OpenGL video output
(Video ->) Scaling mode: Bicubic spline
(Advanced ->) Memory copy module: MMX memcpy
The movie should have 3168 frames (132 s * 24 fps). VLC on my machine played 3146 frames (see screenshot), without a noticeable lag or other strange effects.
QuickTime X (hardware accelerated) has difficulties with the 4K resolution. No wonder, because 2011 hardware & the OS (drivers) are not optimized for the 4K resolution.
Sandy Bridge/Ivy Bridge/Haswell iMacs should have no problem, if you use the appropriate software and settings.