VLC v1.1 was just released and comes with hardware acceleration compatible with Windows 7, Vista and Linux while no official support with MAC. The new version also brings a general 40 percent speed boost from a massive code cleanup. VLC v1.1 includes a new addon and script framework which enables extensions and the VP8 and MEPG-4 lossless codecs have been added to it along with container support for MKV HD and Google’s open-source WebM format. The new VLC seems to offer improvements over the previous ones due to hardware acceleration support and the new Codecs.
VLC 1.1 can be downloaded here.