Winamp 5 with the
MMD3 skin (which is incredibly sexay

) works great for me for any audio file and most videos.
Dynamic Library is a godsend of a plugin; it mirrors your file directory, which is infinitely more useful to me than any sort of media library, since I have a well-organized music folder and very little tag info on artists. Plus, combined with Real/QuickTime Alternative and a few plugins, I don't even have to worry about either of those crappy players anymore. Besides, any media player that has plugins to play NES/Gameboy/Genesis/N64 sound files automatically gets a great deal of respect in my book.

For the anime episodes that I have...um...acquired...I use Media Player Classic. The built-in subtitle options are great (even with the plugins, I could never get them to display in Winamp), and it's handled everything I've thrown at it (such as OGMs, MKVs, and a few AVIs that didn't want to play nice with Winamp for some reason) very nicely. I was most impressed with the fact that it was all pretty much contained in an .exe and a few config files; it's very compact.

The only thing I used to use Windows Media Player for was ripping CDs, but now that Winamp's latest version supports ripping to WAVs at decent speeds, that plus LAME seems to work a lot better for my needs. Failing that, I can just use
CDBurnerXP Pro, a great open-source disk tool.
P.S. If I may ask, why do so many people seem to like iTunes? I've seen it used, and it doesn't look any different in the least from WMP.