1.0.2 is finally usable for me (Windows)! Still has flaws (creates invalid icon entries for the file associations; sometimes displays three little video popup windows when playing a wmv!), but this player is finally worthy enough to replace Media Player Classic here (HomeCinema was a good alternative but unfortunately that is just a bit too unstable).
VLC is quite heavy in the disk space department, but it can be cut down to about 55 mb (from around 80 -LOL). Quite good player so far, and the playback speedup while keeping the same sound pitch is great (seems only this player offers that).