I would like to put in a vote to add video and audio transitions in VLC Player.
Using the playlist, enable transitions between videos and audio in a playlist. It would be even better to enable start and end time on the transition per track or video.
Queuing up effects, and visualizations would help also.
This would turn the player into something DJs, editors, and other creative types could use to compose mashups.
It's a piece missing from VLC to make it the ultimate media player.