Does watching Chinese movies with English subtitles help in learning Mandarin? Does watching Chinese movies with English subtitles help a beginner level Mandarin student to learn and improve the language?
From my experience, I would say no. The translations for movie subtitles are usually too loose to be of much use.

However, if you watch a Chinese movie with Chinese subtitles, that definitely  helps. You can see exactly what they're saying, so you can test your hearing and work on your hanzi recognition at the same time.