VLC for iOS 2.0 is now available for download.
Play all files, in all formats, including exotic ones, like classic VLC media player.
Play MKV, multiple audio tracks (including 5.1), and subtitles tracks (including SSA!).
Support for network streams, including HLS, MMS or RTSP.
Include video filters, playback speed manipulation, and fine seeking.
A video media library, with WiFi Upload, Dropbox integration and optional passcode lock.
Integration for bluetooth headsets and AirPlay.
Supports iOS 5.1 or later including the first iPad.
Completely free, libre and open source.
Download VLC for iOS from app store