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You will now have an SdPlayer.dmg file, which you can use as normal. If you give the .dmg file to someone else, they will need to install VLC, but none of the other above steps will be necessary. By default, no keyboard shortcuts are configured, so you'll need to configure some. The default shortcuts, which many people are accustomed to, can be found at https://www.krubow.com/Downloads/SdPlayer200/sdplayer.html#L2482 (although consider only configuring the first key corresponding to each command).
Thanks to Rachel Chasin for writing up an initial set of instructions at http://phantomcolumnist.blogspot.com/2014/09/installing-sdplayer-200-on-osx.html, which this set of instructions is based upon.