The great VLC media player is being released for the iPad, hopefully next week, and on Sunday they will be giving out a pre-release version to a few of their Twitter followers.
Looks like the new application is going to be awesome:
As compared to the “desktop” version, the user interface will be quite a lot different, to fit the iPad. Behind the scene, the engine is the one from the “ususal” version of VLC, so it should play pretty much anything you throw at it. One small difference though : even though the iPad is a really neat device, it’s nowhere as powerful as your desktop machine / laptop. So it might have a hard time decoding HD movies, but that’s a hardware limitation.