[vlc] 0.9.2 compiled from source problems

[James]

I compiled vlc-0.9.2 from source (I have to).
There is no sound except sometimes I hear something if I move the 
playback slider.
I am guessing something is logging debug information that bogs down my 
machine.
I have an AMD64 5000+ though with 4GB of ram.

I do get an error from the "Tools/Extended Settings".
It says "No v4l2 instance found".

The link to trac just redirects back to the home page.

I get tons of these:
[00000453] main audio output warning: PTS is out of range (2605435), 
dropping buffer
when I run it from a command line.