1. Setting the EQ to the flat (or on) position radically changes the sound. This is more than a level discrepancy. No EQ is set for the test.
A little closer look at this and the gain discrepancy is 3db so the gain make up for EQ insertion is not 12db but 15db which is truly outrageous by anyones standards. Also there appears to be some EQ where there is slightly less bass and or more treble when the EQ is inserted in the flat position. It was also noted that when 15db was set in preferences, depending on where you would switch the EQ on and off it would loose the setting and revert to 12db thus forcing a restart of the player to continue the test. As a side note: I have never experienced or heard of a design for a filter set that lost 15db! Impedance matching designs of the 50s and 60s only lost 6db at the input, if the output was also impedance matching another 6db ensued. However, this was balanced transformer theory which doesn't seem has application here. In bridging active filers no loss is necessary although many designers would create a 6db pad at the input and 6db gain at the output claiming the device had better headroom.
2. I just compared some DTS 5.1 songs in VLC to the codecs I have installed for Direct Show. VLC with the EQ disabled and set to unity gain just like the Windows counterpart, VLC is dark and muffled with a general lack of definition. There is less space or air around instruments and definitely less exciting. The DRC is off on all players.
Assuming there really is a low pass filter at the output, I would guess that the Q of the cutoff filter is not right so the cutoff frequency is to low. For example : a 50KHz sample frequency the cutoff should be about 22KHz and drop about 6db per active in order to be relatively neutral (least ripple) in the passband, 18KHz should still be flat with a slight peek @ 19KHz of about .2db before beginning to roll off @ 20KHz where 22KHz is -.5db and 44Khz would be at least -6db. Of coarse in the real world there is no audio @ 44KHz and 48KHz sampleing is more common than 50KHz. This seems to work well with most 8 times or higher oversampled devices that aren't supposed to need a filter. The result is a warmer clear sound with more natural reverb and is less harsh to the ears, (specially for a female vocalist) without appearing closed down at the top end.
3. No hot keys in full screen mode. That's none, nothing functions.
Edit: This has been fixed in the nightly builds 11/25/06.