VLC 2.0 is out...
I'm not convinced. Interface has all been rolled into one - so, for example, you were queueing a playlist of things up while watching a movie in another window in the old VLC, I can't see an obvious way of doing this now.
The single window holds both playback and playlist - when you launch a movie, it replaces the playlist in the window.
Just my first impression of course. And it's broken my iPhone VLC Remote app (not terribly surprising, it seems to be quite a big update).

EDIT: Ah, there's an option in the preferences to switch off the 'video in the main window' thing.

The 'capture' part of things seems to be utterly broken too. Not entirely sure I'd want to call it a finished product, to be on best with you.

Jon