While I have VLC installed, I think I haven't used it for ages, constantly relying on mplayer2 almost since its inception, until today that is. :)

In the past VLC used to display wrong colors or downgrade video quality for better performance, not sure how it is now (possibly a bit better).

Relevant: http://www.cccp-project.net/wiki/index.php?title=Media_Playe...