According to a posting by Dag Wieers over on users@lists.rpmforge.net:
Is it possible for you to relax your requirements down to QT 4.2? I would really like to be able to use 1.0.0. RHEL6 is a long, long ways away.But I just looked closer to why it complained and tried to work around it, however it seems vlc 1.0.0 needs QT 4.3, and RHEL5 only ships with QT 4.2.
So I can officially say that vlc 1.0.0 will be out of the picture unless the videolan project brings down their requirements, or until RHEL6 ships.
Many thanks,
-T