I use gmplayer for everything vcd/dvd and other video files.
The easiest way to get it working, is to add the livna and freshrpm repos then run:
yum install mplayer-gui
It will sort out the dependencies on its own (and their are a few). But to do so you will need some sort of network connection.
If you are doing it manually, you need at the most basic level, these packages. Remember to change x86_64 for i386 if you dont have a 64bit cpu.
You can pick them up at http://rpm.livna.org/