To look into all video playback options, would you mind elaborating on exactly what you found missing in QT, or what you'd like to see in/with it? It would also help to know if you installed freeware Flip4Mac WMV Player
(assuming they are Lion compatible) to extend QT's compatibility with a variety of video formats?
I did indeed install Flip4Mac WMV Player (version 22.214.171.124) to augment QuickTime 10.1. Not sure what Perian is; I'll check it out sometime.
My main gripe about QT is that it now waits for complete download before playing will start; my previous QT (from Mac OS 9) permitted (partial) playing during downloading. It remains to be seen if VLC will achieve that.
Just to be clear: I'm not looking for 'exotic' media player capabilities, such as editing videos or anything else. So, reading too much into my quest(ions) might well be a 'fool's errand'.