Multiple independent VLC configurations?

[Lupin III.]

Is it somehow possible to have multiple completely independent configurations? I would like to configure one of them to be a small audio player (to finally replace Winamp), and the other configuration would be the "all purpose" player. The "audio player" should always look/behave the same no matter what I do to the other configurations. I managed to get something like this by using the --config command line option, so e. g. volume is stored seperately for every config. But preferences like "docked playlist" still affect all instances.

[Jean-Baptiste Kempf]

Indeed, some interface prefs are shared.
The only easy way is to change the %appdata%/vlc files.