Core structure:

* object structure which allows for full re-entrancy, known as libvlc

* new audio output architecture based on filter pipelines, providing
S/PDIF and multi-channel support
* localization support via gettext on most architectures
* new stream output architecture, allowing to use VLC to unicast,
multicast or broadcast a stream to another VLC (only MPEG 1, 2 and 4
and A/52 streams are supported)
* build system now uses autoconf/automake/autopoint

Input access:
* mms:// support
* ftp:// support
* stability fixes in the HTTP access
* auto-detection of RTP encapsulation
* VCD entry points support
* VCD image file support

Input demux:
* support for *.asf format
* improved support for *.avi, especially over an HTTP connection
* support for *.mp4 and *.mov format
* support for ogg encapsulation
* support for raw DV format
* support for *.wav format
* new demuxdump demux allowing to save a stream to a file
* raw AAC support

Stream discovery & playlists:

* support for the SAP/SDP and SLP protocols
* support for .m3u file format
* support for .asx file format
* hack to find the streaming sources in html-pages with embedded wmp

Codecs:
* support for the microdvd, subrip, ssa1, ssa2-4 subtitles file formats
(only available with the .avi demux)
* support for ADPCM audio codec
* support for raw PCM data
* support for Cinepak video codec
* support for DV video codec via libdv or ffmpeg
* support for AAC audio codec via libfaad2
* support for Xvid codec
* support for Xiph.org's Vorbis audio codec
* support for Xiph.org's Tremor audio codec (when compiling from sources)
* support for Xiph.org's Tarkin and Theora video codecs (when compiling
from sources)
* new codecs supported by latest ffmpeg versions: WMV, WMA, SVQ 1, H263,
H263i, MJPEG A/B
* fixed an endianness bug in LPCM codec

DVD support:
* experimental preliminary support for DVD menus via libdvdplay

Miscellaneous:
* new WxWindows interface
* all interfaces allow to dynamically change the volume, the audio
 device and the channels configuration
* headphone channel mixer with virtual spatialization effect
* Mozilla plugin based on libvlc for embedded playback in webpages of any
format that VLC can play
* new swedish translation
* enhancements of the playlist window
* new messages window to see debug info
* fixed a few crashes

iPaq port:
* slider bar in GTK+/GPE Familiar interface
* fixed crash on directory change in Familiar interface
* added qte_main module for use in all modules that need Opie or Qte support
* native video output module for Qt Embedded/Opie is not working