VLC Media Player Out in Much-Updated Version 1.0
We've covered VLC Media Player a number of times, and it is now out in a new version 1.0.0, dubbed Goldeneye. You can download it here. It's available for the Mac, Windows and Linux, and has long been one of the best of all media players. Back in April, VideoLAN put out a call for Mac developers, and the Mac version is slicker than ever. You can use VLC Media Player to transcode videos and songs between formats, stream content, and it's well-known for handling almost any format you throw at it.
The new VLC Media Player remains small and lightweight enough to carry on a USB thumb drive, and now does live recording and has instant pausing and frame-by-frame playback. There are also new HD codecs (AES3, Dolby Digital Plus, TrueHD, Blu-Ray Linear PCM, Real Video 3.0 and 4.0, and more). Version 1.0 is also very customizable. You can customize toolbars, and many other aspects of the interface.
Many people don't realize that VideoLan offers both VLC Media Player and VLS (VideoLAN Server) for a complete streaming solution, with more details and a download link for VideoLAN Server here. VLC has steadily been inheriting many of the features of VideoLAN Server, so you can use it to stream content in many formats, and VideoLAN even now recommends using VLC Media Player if you want to stream.
Definitely get a hold of the new version of VLC, one of the best multimedia-focused open source apps of all. You'll find a list of features, including the many supported input/output formats here.