If you want to hardcode into the video stream (i.e not use DirectVobSub), you would have to extract the video stream (using something like TsMuxeR), reencode the video stream with the subs, then reassemble the .ts with TsMuxeR
What software you use to hardcode the video stream depends on what kind of stream you have (i.e. it might be h.264, VC-1, or MPEG-2 stream)
Either way, you will lose quality since you are re-encoding using a non lossless codec.
You can include subtitles with TsMuxeR into the transport stream (in the container, not hardcoded into the video stream), but I think you still need software to load the subtitle (like DirectVobSub)
OB is a ABF Outlook Backup File. This webpage includes following information: OB file extension, user guides and software to open/edit .ob format file.
Hope that helps.
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