I really hoped that these vlc issues would disappear after 0.9.2, but it seems this is not the case. I'm using VLC under Ubuntu and it works perfectly. Also 0.9.4 for OS X is pretty solid. And I think Luca got it working pretty well too, at least he hasn't reported issues with it But few people's VLC keep crashing when trying to stream in telnet mode.

deb http://ppa.launchpad.net/c-korn/ubuntu hardy main

VLC version 0.9.4 Grishenko
Compiled by buildd@.unknown
Compiler: gcc version 4.2.3 (Ubuntu 4.2.3-2ubuntu7)

I think I now have VLC from there and it works nicely, but one user had issues with that too.