- it's fast.
- it plays virtually all files media/types (ie. DVD, VCD, CD, MP3, MOV, WAV, FLV, AVI and ...)
- it works on many OSes (ie. Windows, Mac OSX, Linux and ...)
- it's an open source program. (It means both gratis and libre)
The article gives out easy-to-follow, step-by-step instructions about VLC. I'm not going to repeat what's in the article, however, I would like to mention one thing. You could stream video from one computer to another using VLC over the local network or internet. I think it's a cool feature and it works.
VLC and replace it with whatever you are using to watch video.