foobar2000 is a very recommendable media player. It is developed by Peter Pawlowski, who used to work on Winamp3. It uses a plain and simple UI - no skins, no fuss. While in playback mode, it approximately consumes 1.9 megabytes of RAM.

Optional components:
CDDA support / FLAC decoder / Monkey's Audio decoder / Module decoder / TFMX decoder / SPC decoder Changes in Current Version:

• Fixed major akrip bug with cd speed limiting
• Fixed more akrip bugs, cdda input now uses native NT SCSI calls on NT systems
• Removed history hacks, prev/next just move around playlist, new "play random" command
• Improved dithering, no longer affects playback of lossless formats when output bit depth matches input bit depth
• "stop playlist on file error" option, disabling it replaces bad files with 1 second of silence
• Diskwriter can now use replaygain

Download : Installer file