How do I run VLC with command-line parameters when clicking the icon? I've tried changing the Info.plist to point towards a bash script which runs the executable with the parameters that I want. This doesn't seem to work even though when I invoke it from Terminal.app with the same parameters the tests check out.

If it matters, this is 10.5 with VLC 2.0.3.

I also have a 10.8 machine with VLC 2.0.6, and was hoping for a method that wouldn't get blown away every time I upgrade VLC. On that machine I've tried to use Platypus, but it fails to have any effect either (VLC opens up, but doesn't seem to open with the correct arguments).
Your best bet would be to create an applescript wrapper like:

do shell script "/Applications/VLC.app/Contents/MacOS/VLC --fullscreen"


for example.  Save the script as an application.