Good question
I've been asking the same question about a year now... When os x came out, and i wanted to look at my movies, i needed to reboot in classic, i thought apple would fix this problem but still, we can't watch VCD's.
I asked the person who made a vcd player for os9 why there are still no vcd players. He told me, it's impossible to watch a vcd in osx : osx doesn't reconize the disk. I hope this will be fixed in 10.2