Wow. you people have not experienced the full features of VLC yet,if those are your best reasons.
The main reason VLC is greatest besides being free and no codecs needed, is the HUGE amount of customization options .
Here are just a few, but by no means all of them-
#1 61 (yes, SIXTY ONE) hotkey functions which are also user defined. Example: vid/audio playback speed control in o.10 or .50 increments up to 64X ; fast or slow. /4 different time lengths for scene jumping forward or reverse / volume control or mute/ subtitle positioning, delay, sync/ 10 bookmarking position sets or play froms /chapter jumping...Did I mention all this can be user defined? I have my speeds set up on my number pad and scene jumping on my arrow keys with alt or ctrl. and the bookmarks on my Fkeys.
goto Tools- Preferences- then on top right hand side click Hotkeys and be amazed.
Other VLC Features
#2 vid playback has 8 aspect ratios and cropping to remove those pesky black spaces.
#3 subtitle options - preferred language, font, size, position, etc
#4 audio functions- normalizer, user predefined start volume, dolby on/off, surround, headphone surround on/off, etc
#5 audio equalizer, spatializor, and also video adjustments of hue, sharp, gamma, bright, contrast, etc, plus film grain.
(goto tools- effects and filters)
#6 video snapshots with optional user prefix, sequential numbering, and format options (png, jpg, tiff)
#7 records screen, webcam, etc
and if your really into it, there's also serious interface adjustments. Plus plugins, extensions, and skins available too.
BONUS: GOTO tools- effects & filters- video effects- geometry. you can click on puzzle and your video becomes a interactive jigsaw puzzle while its playing. How's THAT for cool?