XML is definitely becoming the standard when handling local content within Flash and makes handing these assets very robust.  Check out this XML video gallery that is pretty slick and supports a handy set of features.

Features to be expected of the Advanced XML Gallery:

Control multiple playlists

Fullscreen video mode supported

Scroll bar with mousewheel and disable option

Additional Features:

• Video streaming supported
• Supports H.264 MP4 video
• Completely XML-driven

Additional Resources: