I wish they'd fix and release the nightly. It so cool looking but there are quite some bugs still. Like performance, playlists, options not working and somehow it can't play videos from my network, while release version can all of this...
VLC is so bad, IMO. There are so many things it does really badly or doesn't do at all that any other alternative (like MPC) does well. It doesn't help that it's ugly as sin, too.
What's with the hate on VLC? It's done more than what I've ever wanted. You can also use it to download YouTube videos and stuff. It's the bees knees, man!