But I assume this will install Web plugins and add Context Menus, right?
I seem your solution install VLC with defaults properties and THEN you change Preferences afterwards.
It would be great if you could set the volume level in the playlist. Your playlist might consist of external URL streams and then you cannot change the volume gain in the file. Only option is to set it in the playlist, e.g. in the xspf format. I assume it must be possible to use an <option> element ...