I propose a feature where a user could assign a hot key to skip to next or previous keyframe. I'm generally not that picky about seeking accuracy, but I used to use virtualDub and it had a feature similar to this. Perhaps this hotkey would repeat after 1/4 of a second or so, so you could just hold it down and it would continue skipping to the next keyframe.
Anyway, I think this would clear up the issue where you seek to a time between keyframes and have to wait for the next keyframe for the video to display correctly.
Also, I could have sworn VLC already had this feature. I just checked for it (running osx version) and couldn't find it, so if I'm just missing it, please let me know.
-n