You may remember the simple video player I've written as an answer to a reader's request, allowing people to watch a video while entering / editing text (article, with full sources, HERE).
In the AppStore, a similar app, “Video DS - DualScreen Video Player”, has recently debuted with a built-in Web browser, letting for browsing the Web while watching a video from both the stock Video's database and videos directly transferred to the home folder of the app. (AppStore link; $1.99)