Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
Yeah it's cracking.

Personally I find it a bit ugly so I tend to transcode most of my movies to .mp4 or .mov so I can watch with QT. Still worth installing though.
 
I use Perian and QT for most video playback. Anything that doesn't work in QT or is choppy I use VLC. It's a nice secondary app.
 
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.