Just get into your root Library Folder (not the one in your home directory) and into the Sub-Folder Internet Plug-Ins (e.g. Macintosh HD:Library:Internet Plug-Ins) and delete the file VLC Plugin.plugin. That’s it.
I have used the new plugin now for about three days and had quite some issues (I am on 10.3.9): - Often, it will not play for a long time or not at all - Files that Quicktime can play should still be played by Quicktime instead of the VLC plugin - No pause/resume buttons are shown, pausing also does...