WinAMP is an excellent, highly-customizable audio file player, CD player, and MP3 encoder.
WinAMP plays MOD, WAV, VOC, CD audio, and MPEG layer 2 or 3 files. You can customize its appearance using different "skins" that are available from the author's Web site. You can have WinAMP run on top of all other applications, and there is an option to shrink the main window down to a narrow "windowshade" that takes up very little desktop space.
WinAMP includes a spectrum analyzer, a CD audio decoder, an MPEG decoder, and a digital equalizer. It supports playlists and it can retrieve track information from the Internet CDDB database. It also supports downsampling and downmixing.
There are a variety of plug-ins available from the author's Web site which extend the functionality of WinAMP.
This newest release offers easier configuration, an improved CDD plug-in (with autoplay), improved MPEG audio decoding, improved MOD/XM/IT rendering, improved filetype registration, a more intuitive playlist editor, and dozens of bug fixes.