[-->Please note that the link for VLC v1.0.6 was inexplicably taken down from the VLC Intel nightly builds site, leaving only the link for v1.1rc, the 64-Bit branch, which is buggy. The only linked version at the standard Mac download page is v1.0.5, which you do NOT want to use due to security flaws. I'm attempting to get the VLC gang to reinstate the v1.0.6 link. In the meantime, v1.1rc generally works fine except for a crash-at-Quit bug, which thankfully is entirely ignorable. :-Derek]
Hey kids. I found that in April some terrific folks on the Mac side of the VLC project have gotten things going again and have provided an update past VLC v1.0.5. You can download the lastest version of VLC at the source page for VLC media player Mac OS X Intel nightly builds. (Sorry PPC users, you are SOL).
Be sure to read the notes at the top of the page very carefully! What you probably want is the latest version of the 1.0-branch-intel stable series. Ignore the gibberish numbers in the file names. When you see '107' in the name it does NOT mean 'version 1.0.7'. ATM the latest version is v1.0.6.
There is a new branch available at the site called '1.1'. It is currently in beta and has some bugs. Thankfully it brings back 64-Bit VLC to the Mac.
Thank you very much to the Mac crew at the VLC project for great, dedicated work! Keep in mind everyone that VLC is an Open Source project, which means all the work is being donated by the developers.