Rockbox Ports are now being developed for various digital audio players!
To play a video file, you just select it in the Rockbox file browser. If your file does not have the .mpg extension, you will need to use the "Open With..." context menu option and choose "mpegplayer.
http://www.rockbox.org/twiki/bin/view/Main/PluginMpegplayerDon't know if it's updated to reflect the status of mpegplayer as of today though. But, still.
"C:\Progra~1\VideoLAN\VLC\vlc.exe" %1 --sout=#transcode{vcodec=mp2v,vb=%VIDBR%,width=%WIDTH%,height=%HEIGHT%,acodec=mp3,ab=%AUDBR%,samplerate=44100,audio-sync,fps=25}:std{access=file,mux=ps,url=%1.mpg} vlc:quit
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