So far Lubuntu 12.04 Precise Pangolin turned out really great. But there's always that one thing, my VLC media player looks strange and doesn't fit in with the rest of my operating system. Apparently Qt4 apps in Lubuntu doesn't pick up correct GTK theme. To fix this issue you just need to install
libgnome2-common package and restart your Qt4 application.
You can do something like this from terminal:
sudo apt-get install libgnome2-common
This command will install library necessary to fix this issue. Have fun!
Edit: The same thing applies to Xfce desktop from Xubuntu 12.04 Precise Pangolin. I've forgot to point out that you need to logout/login into your desktop environment to notice changes.