encoderboy

Take a look at J River Media Center (there's a demo you can try). It's about the best home media player I've found. It does everything you'd expect, plus a bunch of features you won't find elsewhere (ASIO support, DSP for room correction, running multiple streams from the one sound interface, DLNA, etc etc etc). It won't be for everybody (and not everybody will be up for a paid player), but it's pretty superb. My second favourite choice would be Media Monkey ;-)