I just got Winamp, a media player, and I really like it. I haven't played any movies with it, but I like the audio part quite a bit. It minimizes in a tiny tool bar on the top, and has a small fade out and in when you pause and unpause.
Are there any other media players that are better?
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Although i cannot compare it to Winamp as i have never used Winamp so i cannot commit on if it is better or worse than VLC
If you want something good for video playback, install the CCCP pack, it comes with Media Player Classic and Zoom Player for you to pick which you like. Or just grab the Windows version of MPlayer. Also, personally I avoid VLC for the things I hear about it aren't that good. It uses some bad hackish ways to playback video and I've heard about a fansubbing group (don't know the name) specifically making sure that VLC would mess up the video during playback. All whilst following just standards afaik.