I haven't restarted device for a few days (battery died) and FlopSwap is reporting "Used 1161 Mb (113) % of 1023Mb". So take that in to consideration when I say the following. I'm running the thumb version from gidzzz's repo.

First thing I've noticed is bringing up Videos library (set to Videos - latest) is a lot quicker...like almost instant. Previously it seemed to show videos from camera, then slowly insert cuteTube and other videos to the beginning of the list. Also searching for a video by name is a lot quicker.

Playback wise, I haven't seen the animated loading dots. Don't know if they still exist but I haven't seen any yet because the video seems to load almost instantly. Even on the higher bitrate 480p files I have encoded myself it is about 0.5-1 sec before it plays.

Don't remember if it was there previously, but on playback there is now a small i in the bottom left to show video info when the playback controls are visible. Quite handy for testing different files.

Great update from what I've found so far!