I managed to make a multicast stream using VLC 2.0.5, a component video capture card and the PC's onboard audio in; this worked around a problem where I can't capture audio directly from the capture card.
I found that VLC doesn't find the audio in sometimes; I first have to make sure there's a cable plugged in or even Windows won't use it; this makes sense. But even with my audio input plugged in I get a device name like "Line In (High Definition Audio D" (it crops "evice )" from name) and this device proves unusable; VLC says it can't find the audio device. If I rename the input line from "Line In" to "In" using the Sound control panel, then I get "In (High Definition Audio Devic" (without the "e )" and it's useable.
It makes building the command line interesting. I end up with this:
vlc.exe -vvv dshow:// :dshow-vdev="[video capture card here]" :dshow-adev="In (High Definition Audio Devic"
It seems VLC can tolerate a long video capture device name, but not a long audio capture device name.
Is there an alternate means to specify the devices to use? Perhaps there's an internal list of IDs I can look up? Or was the cropped device name problem fixed in 2.0.6?