I downloaded the most recent nightly branch build and the timing/pitch issue seems to be fixed. However, something that I think was a problem since at least 1.1.4 is still happening and it happens with all audio files but it's really more noticeable if you try to play really short files, like Windows event sounds that are mostly under 2 seconds. Part of the beginning and part of the end gets lopped off and some files don't even make a sound (like this one, which can cause VLC to crash if I enable loop one playback and click play:
http://www.zot.org/~hamish/sounds/sosumi.wav). I know the nightly builds aren't officially supported, but this is still an old problem.
main debug: adding item `sosumi.wav' ( file:///C:/Documents%20and%20Settings/Gene/Desktop/sosumi.wav )
qt4 debug: Adding a new MRL to recent ones: C:\Documents and Settings\Gene\Desktop\sosumi.wav
main debug: rebuilding array of current - root Playlist
main debug: rebuild done - 1 items, index -1
main debug: Creating an input for 'sosumi.wav'
main debug: processing request item sosumi.wav node Playlist skip 0
main debug: resyncing on sosumi.wav
main debug: sosumi.wav is at 0
main debug: starting new item
main debug: creating new input thread
main debug: Creating an input for 'sosumi.wav'
main debug: thread (input) created at priority 1 (input/input.c:214)
main debug: thread started
main debug: using timeshift granularity of 50 MiB
main debug: using timeshift path 'C:\DOCUME~1\Gene\LOCALS~1\Temp'
main debug: `file:///C:/Documents%20and%20Settings/Gene/Desktop/sosumi.wav' gives access `file' demux `' path `C:\Documents and Settings\Gene\Desktop\sosumi.wav'
main debug: creating demux: access='file' demux='' path='C:\Documents and Settings\Gene\Desktop\sosumi.wav'
main debug: looking for access_demux module: 2 candidates
main debug: no access_demux module matching "file" could be loaded
main debug: TIMER module_need() : 0.430 ms - Total 0.430 ms / 1 intvls (Avg 0.430 ms)
main debug: creating access 'file' path='C:\Documents and Settings\Gene\Desktop\sosumi.wav'
main debug: looking for access module: 2 candidates
filesystem debug: opening file `C:\Documents and Settings\Gene\Desktop\sosumi.wav'
main debug: using access module "filesystem"
main debug: TIMER module_need() : 0.293 ms - Total 0.293 ms / 1 intvls (Avg 0.293 ms)
main debug: Using AStream*Stream
main debug: pre buffering
main debug: received first data after 0 ms
main debug: pre-buffering done 1024 bytes in 0s - 35714 KiB/s
main debug: looking for stream_filter module: 2 candidates
main debug: no stream_filter module matching "any" could be loaded
main debug: TIMER module_need() : 0.156 ms - Total 0.156 ms / 1 intvls (Avg 0.156 ms)
main debug: looking for stream_filter module: 1 candidate
main debug: using stream_filter module "stream_filter_record"
main debug: TIMER module_need() : 0.184 ms - Total 0.184 ms / 1 intvls (Avg 0.184 ms)
main debug: creating demux: access='file' demux='' path='C:\Documents and Settings\Gene\Desktop\sosumi.wav'
main debug: looking for demux module: 52 candidates
wav debug: chunk: fcc=`fmt ` size=16
wav debug: format: 0x0001, fourcc: araw, channels: 1, freq: 11000 Hz, bitrate: 10Ko/s, blockalign: 1, bits/samples: 8, extra size: 0
wav debug: found Raw audio audio format
wav debug: chunk: fcc=`data` size=1984
main debug: selecting program id=0
main debug: using demux module "wav"
main debug: TIMER module_need() : 0.695 ms - Total 0.695 ms / 1 intvls (Avg 0.695 ms)
main debug: looking for a subtitle file in C:\Documents and Settings\Gene\Desktop\
main debug: looking for decoder module: 34 candidates
araw debug: samplerate:11000Hz channels:1 bits/sample:8
main debug: using decoder module "araw"
main debug: TIMER module_need() : 0.185 ms - Total 0.185 ms / 1 intvls (Avg 0.185 ms)
main debug: thread started
main debug: thread (decoder) created at priority 2 (input/decoder.c:301)
main debug: looking for meta reader module: 2 candidates
lua debug: Trying Lua scripts in C:\Documents and Settings\Gene\Application Data\vlc\lua\meta\reader
lua debug: Trying Lua scripts in C:\Program Files\VideoLAN\VLC\lua\meta\reader
lua debug: Trying Lua playlist script C:\Program Files\VideoLAN\VLC\lua\meta\reader\filename.lua
main debug: no fetch required for (null) (art currently (null))
lua debug: Trying Lua playlist script C:\Program Files\VideoLAN\VLC\lua\meta\reader\filename.luac
main debug: no meta reader module matching "any" could be loaded
main debug: TIMER module_need() : 2.574 ms - Total 2.574 ms / 1 intvls (Avg 2.574 ms)
main debug: `file:///C:/Documents%20and%20Settings/Gene/Desktop/sosumi.wav' successfully opened
main debug: Buffering 0%
main debug: reusing aout
main debug: Buffering 16%
main info: Reparenting an object is dangerous (01406de8 -> 01406de8)!
main debug: Buffering 33%
main debug: Buffering 50%
main debug: EOF reached
main debug: Stream buffering done (150 ms in 0 ms)
main debug: looking for audio output module: 4 candidates
aout_directx debug: Opening DirectSound Audio Output
aout_directx debug: found device: Primary Sound Driver
aout_directx debug: found device: SB X-Fi Audio [0001]
aout_directx debug: found device: ATI HD Audio rear output
qt4 debug: IM: Setting an input
aout_directx debug: device supports 2 channels (DEFAULT!)
aout_directx debug: device supports 1 channel
aout_directx debug: Windows says your SpeakerConfig is 5.1
aout_directx debug: creating DirectSoundThread
main debug: thread (DirectSound Notification Thread) created at priority 15 (directx.c:321)
main debug: thread started
aout_directx debug: DirectSoundThread ready
main debug: using audio output module "aout_directx"
main debug: TIMER module_need() : 12.520 ms - Total 12.520 ms / 1 intvls (Avg 12.520 ms)
main debug: output 's16l' 11000 Hz Stereo/Mono frame=1 samples/4 bytes
main debug: mixer 'f32l' 11000 Hz Stereo/Mono frame=1 samples/8 bytes
main debug: filter(s) 'f32l'->'s16l' 11000 Hz->11000 Hz Stereo/Mono->Stereo/Mono
main debug: looking for audio filter module: 14 candidates
audio_format debug: f32l->s16l, bits per sample: 32->16
main debug: using audio filter module "audio_format"
main debug: TIMER module_need() : 0.258 ms - Total 0.258 ms / 1 intvls (Avg 0.258 ms)
main debug: found a filter for the whole conversion
main debug: looking for audio mixer module: 3 candidates
main debug: using audio mixer module "float32_mixer"
main debug: TIMER module_need() : 0.169 ms - Total 0.169 ms / 1 intvls (Avg 0.169 ms)
main debug: input 'u8 ' 11000 Hz Mono frame=1 samples/1 bytes
main debug: looking for audio filter module: 1 candidate
scaletempo debug: format: 11000 rate, 2 nch, 4 bps, fl32
scaletempo debug: params: 30 stride, 0.200 overlap, 14 search
scaletempo debug: 1.000 scale, 330.000 stride_in, 330 stride_out, 264 standing, 66 overlap, 154 search, 550 queue, fl32 mode
main debug: using audio filter module "scaletempo"
main debug: TIMER module_need() : 0.225 ms - Total 0.225 ms / 1 intvls (Avg 0.225 ms)
main debug: filter(s) 'u8 '->'f32l' 11000 Hz->11000 Hz Mono->Stereo/Mono
main debug: looking for audio filter module: 14 candidates
main debug: no audio filter module matching "any" could be loaded
main debug: TIMER module_need() : 0.154 ms - Total 0.154 ms / 1 intvls (Avg 0.154 ms)
main debug: looking for audio filter module: 14 candidates
audio_format debug: u8 ->f32l, bits per sample: 8->32
main debug: using audio filter module "audio_format"
main debug: TIMER module_need() : 0.169 ms - Total 0.169 ms / 1 intvls (Avg 0.169 ms)
main debug: looking for audio filter module: 14 candidates
main debug: using audio filter module "trivial_channel_mixer"
main debug: TIMER module_need() : 0.167 ms - Total 0.167 ms / 1 intvls (Avg 0.167 ms)
main debug: found 2 filters for the whole conversion
main debug: filter(s) 'f32l'->'f32l' 12100 Hz->11000 Hz Stereo/Mono->Stereo/Mono
main debug: looking for audio filter module: 14 candidates
bandlimited_resampler debug: f32l/12100KHz/2->f32l/11000KHz/2
main debug: using audio filter module "bandlimited_resampler"
main debug: TIMER module_need() : 0.194 ms - Total 0.194 ms / 1 intvls (Avg 0.194 ms)
main debug: found a filter for the whole conversion
main debug: End of audio preroll
main debug: Decoder buffering done in 14 ms
main debug: finished input
main debug: thread times: real 0m0.015625s, kernel 0m0.015625s, user 0m0.000000s
main debug: removing module "araw"
main debug: killing decoder fourcc `u8 ', 0 PES in FIFO
main debug: removing module "audio_format"
main debug: removing module "trivial_channel_mixer"
main debug: removing module "scaletempo"
main debug: removing module "bandlimited_resampler"
aout_directx debug: closing audio device
aout_directx debug: DirectSoundThread exiting
main debug: thread ended
main debug: thread times: real 0m0.000000s, kernel 0m0.000000s, user 0m0.000000s
main debug: removing module "aout_directx"
main debug: removing module "audio_format"
main debug: removing module "float32_mixer"
main debug: releasing aout
main debug: removing module "wav"
qt4 debug: IM: Deleting the input
main debug: removing module "stream_filter_record"
main debug: removing module "filesystem"
main debug: Program doesn't contain anymore ES
main debug: thread ended
main debug: dead input
main debug: thread times: real 0m0.015625s, kernel 0m0.000000s, user 0m0.000000s
main debug: changing item without a request (current 0/1)
main debug: nothing to play
main debug: Destroying the input for 'sosumi.wav'
main debug: TIMER input launching for 'sosumi.wav' : 6.586 ms - Total 6.586 ms / 1 intvls (Avg 6.586 ms)