FYI
This version of VLC for iPad should have been titled "VLC Sync"
It claims to allow streaming, but has no interface for entering an address, thus, it cannot stream a video, say, off a web server.
Yes, this is a fantastic boon to those that don't mind syncing media every time they want to use the app. Great. But I, for one, have avoided syncing at all costs... it is a huge time waster (in regards to media). All my media sits on my web server the Apache2 built into OS X basically, the Sites folder in the Home directory, and Web Sharing turned on in System Preferences. No syncing... just use the browser, access to all media instantly, no syncing necessary.
Thus, this version of VLC is useless to me, as it is. zodttd had a port of vlc for the original iPhone (jb) that was more functional than this iPad version, released a few years ago. I am quite disappointed with the new app.
The desktop version, however, is the main media app on my computer... even though development for VLC on Mac has stalled, it is still far superior to any other media player available for Mac.