Both playback and auto-matching were fully tested, and OL CS5 shipped with no known bugs in these areas. Which is not to deny for a second that you're having problems but only to suggest that we'll need more info in order to troubleshoot what's going wrong.
Can you provide one clip that you're trying to auto-match along with the OL project? If one of the clips is small enough, you can simply email it to me (mapes at adobe dot com. The max on the Adobe end is 50 MB); if they're all too big to email, we can resort to FTP.)
Did you sync the camera's clock to the computer's prior to shooting? If not, have you set the camera's date/time in OL?
I tried ot reply to your email with files attached but the email bounced?
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The mail system
10.137.24.42[10.137.24.42] said: 553
unknown. (in reply to RCPT TO command)