Requires: SDL > 1.1.4
smpeg is Loki Entertainment's (yep, the company that ports games to Linux) first open source project, and it's pretty cool. It's a full MPEG video library and even includes a minimal MPG viewer. smpeg-0.4.2 was the version used, and I downloaded it from ftp://ftp.linuxgames.com/loki/open-source/smpeg/ . Then I handled it like any other autoconf-style package.
Compilation took a whopping three minutes. Off I went to get the XMMS plug-in to use smpeg. Tired of compiling yet? (The minimal MPEG viewer is GTV, by the way.)