I just downloaded with the native browser this video of Steve Vai recieving the TEC Les Paul Award on my PB and found this free app to play it with. Local Media Player by Andy Ching.
It's pretty cool, in that it will play flash while the Videos app won't. But, he's got to make the title bar at the top disappear- it cuts off some of the video.
Never mind- I just realized that when you hit the full screen button- the bar goes away.