Not too long ago, we had written about the VLC Media Player iPad app being available for download. The app has now been upgraded to support the iPhone (iPhone 4, iPhone 3GS) and iPod touch devices besides the iPad. The updated version 1.1.0 adds native support to delete files from within the VLC player application without needing to go through iTunes. Other minor upgrades to the app include recognition for more extensions and faster decoding for the media files. While there are some issues reported already, it can play wider range of video format files on the iPhone.
The VLC Media Player is available as a free app for iPhone, iPod touch and iPad running iOS 3.2 or later versions from the iTunes app store (link added below).
Download VLC Media Player App Version 1.1.0 [From iTunes App Store]