As a first step in reworking the existing Mac OS X interface for VLC 1.2, I’ve created an Audio Filters panel providing options similar to the Extended Controls panel known from the Qt interface used on Win32 and Linux. VLC 1.2 for Mac will get an entirely new main window and playback concept as part of this year’s Google Summer of Code. More on that once GSoC officially starts.
This panel is already fully functional and available through VLC’s unstable nightly builds. Note that video output is not supported in the current binaries, so you really need to focus on the audio features.
Screenshots of the new panel available here.