Core support :

• Major work on libvlc. Changed/renamed/added functions.
  
• Complete switch to the new access2 and demux2 systems.
  
• New plugins cache to speed up launch time.
  
• New --play-and-stop feature which stops the playlist after each played item
  
• Daemon mode.
  
• Technical improvements to the subtitle/OSD subsystem.

Input :

• New screen capture input plugin for X11, Win32, BeOS and Mac OS X (Stream your desktop).
  
• Improved DVD support :
  - uses libdvdnav for playing DVDs with menus support.
  - uses libdvdread for simple playback with menus (eg. for streaming).
  
• Experimental multi-input support ( use --input-slave to play with it ).
  
• Automatic MTU discovery for UDP streams.
  
• More powerful MRL syntax for DVD/VCD/CDDA access (selection of titles/chapters).

Demuxers :

• Support iTunes Music Store previews.
  
• Support for MJPEG webcams (i.e. AXIS cams).
  
• Added initial mp4 and mpeg-ts text track support.
  
• Windows Media Server RTSP support.
  
• Support for MPEG TS streams with error correction (204/192 bytes TS packets).
  
• Support for DTS audio in MPEG TS (ETSI TS 102 154 Annex G).
  
• Skins2 .vlt file loader (only when skin2 is the current interface).
  
• Improved Ogg demuxer.
  
• Support for MPEG PS streams with MPEG 4 video.
  
• Support for so called AACPlus webstreams.

Codecs :

• G.726 audio support.
  
• 14496-17 MPEG TS text support.
  
• MPEG-4 text support.
  
• Vastly improved DVB subtitles decoder (ETS 300 743).
  
• Enabled color in DVB subtitles rendering.
  
• VobSub supported both externally and in Matroska.

Stream Output :

- Encoders :

• Re-use audio/video/spu decoders in transcoder module. From now on, everything that is playable by VLC should be transcodable as well.
  
• Subtitles overlaying in transcoder.
  
• Subpictures overlaying in transcoder (see video output).
  
• Frame rate selection in the transcoder.
  
• DVB subtitles encoder.
  
• MPEG 1 layer 2 audio encoder using libtoolame.
  
• Improved vorbis/theora encoding.
  
  - Muxers :
  
• Text track muxing for mp4.
  
• Multipart mjpeg muxing. Your video is directly viewable in a Mozilla Browser.
  
• 14496-17 text track muxing for MPEG TS.
  
• Support for DTS audio in MPEG TS (ETSI TS 102 154 Annex G).
  
• New WAV muxer (supports multi-channel audio).
  
• Improved ASF muxer
  
  - Misc :
  
• H.263 RTP streaming support.
  
• SDP generation outputs more compliant SDPs and can create SDP files now.
  
• Improved RTSP and VoD server (experimental).

Audio Output :

• New audio equalizer filter.
  
• Very trivial volume normalizer.
  
• True channel downmixing when playing 5:1 material on Stereo
  
• More gradual resampling which should improve the pitch changing effect.
  
• New audio output plugin using portaudio v19

Video Output :

• Roku HD1000 Video output.
  
• Experimental generic OpenGL video output (X11, Win32, MacOS X) with support for effects.
  
• Improved filter and subpictures support :
  - New filters can be streamed.
  - "Subpicture filters" to overlay subpictures on video.
  - Centralized scaling and blending.
  
• New filters :
  - "time", to display current time.
  - "marq", to display a marquee.

Interfaces:

• OSD sliders for volume and postition information.
  
• OSD icons for Play and Pause.
  
• New Streaming Wizard for Windows and Linux default interfaces.
  
• A few skins2 improvements.
  
• Added search, volume, loop and random functions to the ncurses interface.
  
• Added a filesystem browser to the ncurses interface.
  
• The remote control interface can now listen for commands on sockets.
  
• Improved CORBA control module.

Mac OS X port :

• Fixed the "cannot set buffersize:[nope]" coreaudio problem.
  
• Major speed improvements to the Quartz video output.
  
• The Mac OS X interface is no longer required to display video.

Linux port :

• New galaktos visualization plugin (MilkDrop-compatible).
  
• Experimental SVG rendering module.
  
• Support for DVB CAM modules.

Windows port :

• DirectX Media Object decoder (allows playing some media types, like WMV3).
  
• DirectX Media Object audio and video encoder.
  
• Fixed long standing win32 thread handles leak.
  
• Fixed problem with CPU usage with subtitles rendering.
  
• Wallpaper mode for the DirectX video output (only in overlay mode).

WinCE port :

• Massive update (we still miss an interface and a fast video output).

Mozilla plugin :

• Added a lot of Javascript accessible funtionality.
  
• Volume, position, length, seek etc etc etc.

Misc :

• Server/client network synchronization module.
  
• VBrick streams fully supported.
  
• Cisco IP/TV streams supported.
  
• VLM enhancements.