I've just started using VLC because my beloved JetAudio doesn't work very well with Windows 7 64bit.
Overall it's a fine player, but there are a couple of things that are very annoying. Frankly, I'm surprised that VLC still hasn't addressed them, since every other player of note has had these capabilities for years.
1. VLC doesn't remember what was being played last session. Most players do, and some even remember at what position.
2. To make matters worse, the recently played list in the file menu is never up to date. It's always one or two files behind, which makes it somewhat useless.
3. The EQ doesn't remember it's settings. Why the heck not?
4. You can't save custom settings for the EQ. Again, why not?
5. Subtitles aren't always recognized. More than a couple of times I've had to go back to JetAudio to watch foreign language videos (JA works with subtitles flawlessly, embedded or not.)
What's also surprising is that these very basic features aren't included, yet there's a massive wealth of tweaks which, while being pretty damn cool, are still kind of esoteric. It's kind of like having a Swiss Army knife that's missing some of the most-used tools, like a screwdriver.
Other than that, it's a wonderful player. I LOVE how quick it starts up, and how it has a pretty small memory footprint.
Anyway, thanks for letting me get this off my chest.