I only ever used VLC to play content from a networked tuner once (HDHomerun). I'm not sure what makes it better than CF's own (I take it it's WMP?).
What I really wanted to see is support for milkdrop visualizations, and I think only winamp allows that (winamp bought milkdrop)?
Now streaming from home is a cool idea, if VLC is the only/best way to get that, I'm all for it.