Interesting, as a previous version of VLC got pulled from the app store after someone complained that it would be a violation of the GNU license to put it in Apple's "walled garden" store. That guy who complained was a jerk.
I'd say get the app now before some other jerk does the same thing.
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There is an app called "Stream to me" which you install on the iPad. Then install "Serve to me" on your mac / pc. Configure the apps to point to your media folder on the computer, then you can view anything in that folder on the iPad (the mac / pc does all encoding / decoding on the fly, and video quality is pretty good). Depending on network traffic, it may stall or get a little choppy occasionally, but i've had a good amount of luck using this method.
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Nice app...now all I need is the iPad... :crazy: