The multimedia player Bsplayer has been released in the new version 2.0 today. I was using previous versions of bsplayer and was really satisfied with it. It had some minor problems and I made the switch to VLC media player and plan on using that one even though the new version of bsplayer has been released.
The player supports most used multimedia formats like avi, mp(e)g, divx, xvid, asf, wmv and many audio formats like mp3 and wav. It supports subtitles, drag and drop, resolution changing, multipled audio streams and is able to capture frames. If you are still using media player you should try and make the switch, it´s faster and better than it.

A VLC alternative called SMPlayer
Preferred Filter Tweaker for Windows 7
Now, this is a 100% irrelevant comment, but I just had to drop in and thank you for suggesting Penumbra. It’s a brilliant free game.
Thanks, once again…
i installed it before and it’s got this crappy adware program built in that you can’t uninstall without uninstalling BSPlayer as well. Now I know what the BS stands for. I’ll stick to v1.41
Mike thanks for mentioning this. I did not know that they included adware in their player.. Can´t recommend it therefore.
Try VLCPlayer, its great.
and I use avs dvd player (www.avsmedia.com/dvdplayer/index.aspx). good quality of video, more supported formats and various features.