So, I'm actually trying to create a submittable build of MPlayer.
./configure --enable-runtime-cpudetection --extra-cflags="-march=i486 -mtune=i686 -O2 -pipe -fomit-frame-pointer" --extra-ldflags="-Wl,-O1" ...
I hope that's OK so far? Like the  -O2  flag.
I'll do one version with OSD menu.
If needed, I can also do another version without OSD menu but with GUI support (GMPlayer).
Now I need you guys to tell me if a certain feature is important to be included, and what features are more or less useless or redundant.
For example, should I compile with  libbluray  or will it play blu-ray disks just fine without that dependency?
I'd say  aalib.tcz  (ASCII Art) is pretty much useless?
Also, OpenGL and VDPAU? 
Building with GIF failed. If needed, I look into it.
MNG and libschroedinger-lavc failed as well.
This is a list of what the MPlayer developers think MUST be included.
Not sure about  tdfxfb . Everything else seems OK but I'll have yet to take a closer look.
* audio/video output
  - fbdev
  - JPEG/PNG/TGA
  - (X)MGA
  - OSS
  - tdfxfb
  - (c/x)vidix
  - X11/Xvideo
* codecs
  - libavcodec(internal)
  - native codecs (libmpeg2/mp3lib)
  - Vorbis Tremor codec(internal)
  - RealPlayer codecs support (*)
  - Win32/VfW/DShow/QT codecs support (*)
  - XAnim codecs support (*)
* general:
  - FreeType fonts support
  - HTML documentation
  - large file support
  - man page(s)
* input/demuxers:
  - DVD(libdvdread4/libdvdnav)
  - streaming
  - Matroska(internal)
  - (S)VCD
  - tv(v4l/v4l2)
(*) if available for your OS/hardware
Currently, the .dep file looks as follows (but hasn't been tested to be complete!):
ncurses.tcz
libpng.tcz
libjpeg-turbo.tcz
libasound.tcz
fontconfig.tcz
libcdio.tcz
fribidi.tcz
libass.tcz
lzo.tcz
libmad.tcz
speex.tcz
libtheora.tcz
mpg123.tcz
liba52.tcz
faad.tcz
libdv.tcz
libvpx.tcz
aalib.tcz
SDL.tcz
libopenal.tcz
libXss.tcz
libXinerama.tcz
libXxf86vm.tcz
libXxf86dga.tcz