The download page for Ubuntu:
http://www.videolan.org/vlc/download-ubuntu.html
suggests for Lucid the use of the Lucidbleed-ppa in order to obtain the latest version of VLC. For Maverick however, the website suggests the use of the official repositories. Unfortunately the official version of VLC for Maverick is outdated (1.1.4).
I am the maintainer of the suggested PPA (Lucidbleed) and I also maintain a similar one for Maverick (maverickbleed):
https://launchpad.net/~maverick-bleed/+archive/ppa
I ported version 1.1.6 of vlc to maverickbleed ppa, and I plan (just as for lucid) to keep it in sync with the latest version of VLC. Therefore I'd recommend that the use of such ppa for maverick should be clearly stated in the download page above.
Best,
Nicola