VLC For iPhone and iPad is awesome and there is no doubt about that. Complete with AirPlay support, multiple ways to load files into the video app, real-time video filters, playback speed manipulation, subtitles and more (DropBox Support).

It seems that its not yet available in the US App Store as I have found out this evening. However from what I can tell from a few blogs its being rolled out. If you have connections who will allow you to VPN into a network in another country you can download this now, or simply wait; which I did not.

VLC for iOS requires iOS 5.1 or later. It runs on any iPhone, iPad, or iPod touch, including the first iPad

Here are some of the features

  • Play all files, in all formats, including exotic ones, like classic VLC media player.
  • Play MKV, multiple audio tracks (including 5.1), and subtitles tracks (including SSA!).
  • Support for network streams, including HLS, MMS or RTSP.
  • Include video filters, playback speed manipulation, and fine seeking.
  • A video media library, with WiFi Upload, Dropbox integration and optional passcode lock.
  • Integration for bluetooth headsets and AirPlay.
  • Supports iOS 5.1 or later including the first iPad.
  • Completely free, libre and open source.