You can also adjust picture quality. From the video screen, you touch a button in the lower right to bring up a group of sliders where you can adjust brightness, contrast, hue, saturation, or gamma, all while a video is playing.
No way to explore
I think the only real drawback to VLC for iOS is the lack of explore features. To be fair, the app does exactly what it promises: It plays videos from multiple formats with intuitive controls, and it does it well. But without a way to explore videos, it means you'll need to get those videos on your own, which can be a multi-step process for finding legal content, downloading it, then uploading it to one of the aforementioned cloud services.
What it boils down to is you can upload your personal videos (all legally obtained, of course), but it will take some time to build a library. In other words, it's up to you to find the content you can use with VLC for iOS.
VLC for iOS is an excellent video player with controls you won't find in other apps from the genre. The redesign in the latest version looks great, keeping almost all the controls in one easy-to-browse menu with tons of options for uploading content.
New gesture-based controls during video playback are easy to use and work seamlessly without the need to leave your video. The ability to tweak the picture quality in real time is extremely convenient.
For all the great things about VLC for iOS, you still have to find the content in order to use it. Still, with a little Internet savvy, this app is great for video playback with controls you'll wish every video player had.