all players have problems, it has to do with the type of file, your computer and if the file is messed up in anyway. i have had problems playing some videos on vlc but when i try to play them on other players they wont run at all, not because of codecs but because the file is messed up in some way or it doesnt want to run on my computer. different files i play on different players BUT i universally use VLC for subtitled things usually. it is my default player.
to me vlc is basic, it can play a larger assortment of things, but mainly i like it because it is basic and simple. vlc, for me, opens right away, it doesnt take alot of time to open and load componnents like widows media players, real player, power dvd, zplayer, and most other players. if i want to watch certain file types really high quality or play music playlists with shuffle or repeat features then i use media player but if i just want something simple and hassle free then i use vlc. it also has an easy feature for changing subtitles and even dubbed language. when watch dvds or anime movies such as spirited away with english, french, japanese, and other dubbed languages i can easy change the default language from english to japanese and turn subtitles on. many other players make it harder to find those setting and change subtitles or dubbed voices.
so it depends on what u prefer. simple or complex but with more perks (shuffle, repeat, things like that). if u watch things with subtitles or not. what kind of files u are playing (real player files dont run on vlc, or if they do they are bad quality). and other such things. i really suggest downloading 3 different players to play different types of files, then the type of player can also suit your mood on how u want to play a certain file at a given moment.
so does vlc have problems? yes. but all players do. downloading it is simple, so i say give it a try. i believe it really is a matter of taste and preference.