Why you don't :
use a recent distribution Fedora 12 is out
use a recent VLC (1.0.4)
use the package provided by your distribution
?
To answer your question:
http://wiki.videolan.org/Contrib_Status
live555 debug: DESCRIBE failed with 500: cannot handle DESCRIBE response: RTSP/1.0 500 Internal Server Error
live555 debug: connection timeout
Use a recent versioni use 0.85 version , what's ur ideas?