The team of developers behind the VLC for Android application have released a full 1.0 version of the app today, which skips over the beta version of the VLC app that is also still available for download. Presumably what VLC will be doing here is not too unlike what Google does with Chrome and Chrome beta for Android. We would expect that as time goes on VLC will be using the beta version of the application to push out new and cutting edge features to users so that they might test them out and give feedback before the developers roll them out to everyone in the full version.
The full version will be stable with the least amount of bugs(if there are any to begin with)while the beta continues to be the launchpad for new stuff. Other than being a stable VLC 1.0, the app doesn't seem to have any differences from the beta listed app,(which was listed as out of beta back in December)but that's ok for now especially if they plan on keeping the beta version up for the above mentioned purpose. If you haven't yet tried out VLC for Android because of the instability that sometimes tends to come with beta apps, now's your chance to hit the ground running and get all the VLC goodness you may be familiar with on your Android smartphone or tablet.
As this is the same as the beta version at this point, all the same features apply here, which means you'll be able to play most local video and audio files on your Android device including MKV, MP4, AVI, MOV, Ogg, FLAC, TS, M2TS, and AAC. The app will also let you play network streams and DVD ISO's just like the desktop version of VLC player, so you're not missing out on anything here at this point in time. When and if the team at Videolabs decides to update the beta version, if you like having access to new stuff before the masses you may want to end up downloading that version as well. That is of course, assuming Videolabs plans on keeping both version in the Play Store, which they may very well not plan to do. Do you use VLC either on Android or on your desktop already? If you want to give the full and stable version of VLC for Android a shot you can do so by grabbing it from the Play Store link.