VLC, the “open source cross-platform multimedia player,” is now available for Android devices. It’s compatible with OS 2.1 or higher and VLC notes this version is still in beta form and “is NOT stable and is slower than the final version” and is “intended for power users and hackers.” You’ll be able to use is but there’ll be changes to the official version 1.0, plus there’s several key functions missing, such as: performance improvements, hardware decoding works only with a limited set of hardware, and audio issues might occur. If that’s not enough, VLC says this beta version “might kill your kitten, destroy your house and start the mayan apocalypse. Use it at your own risk.”
Update: Well, this is unfortunate… According to a Twitter post VLC is not available in the United States or Canada.