It took quite some time for this to happen but the VLC Media Player is finally here for the iPhone and the iPod touch platform. The new version 1.1.0 has some new improvements well suited for the iPhones and the iPods. The new VLC player will let you edit files from within the application while more extensions are being recognised.
VLC also offers faster decoding which will allow you to play different formats faster with little or no wait time. As of today, VLC player is also available only for the iPad, iPhone 4, iPhone 3GS and iPod touch. The older generations of the Apple products won’t be able to use VLC player which is a bummer.