I use VLC to playback VOB files (videolan.org) ... It's open source, which is always nice.

For playback, I have an ATI 9700Pro with a DVI output. I just run that into my projector and I hacked up VLC to make it so you can select a preferred display device for the video window to open on. So when I play a movie, it will always play on the second monitor.

For audio, I have a Audigy2 with SPDIF out. The catch here (that someone pointed out in another thread) is that it doesn't have an AC3 encoder on it, so you will only get AC3 output from an existing AC3 encoded source (i.e. DVD). That is, if you have a game that outputs 5.1, it won't necessarily playback 5.1 on your system unless they are software encoding it to be DD5.1.

ms