VLC all the way!!
it can render nearly any video file, as well as having a nice volume increasing feature... too bad media player didn't have that, sometimes i can barely even hear my dvds when i use it.
vlc is capable of using any codecs previously installed on your computer, no matter what program originally installed it, as well as using your hardware to decode the video/audio, instead of straight softare... because we all know that the real speed and capability is in the hardware.
I agree with all of you but I feel Winamp 9 the newest version Rocks as a media player it contains everyting an easy access to huge list of videos and audios in media library from all over , easy playlist access , great skin modes and the best part it lays nearly all sounds great with it's new DFX installed , Real player is also a good option