I've been using a new media player at work these past few days, it's called GAmp. I happen to know the programmer – Jeremy, and he's a very good .Net developer. If you want to give it a try, please let him know about any bugs or suggestions for improvement. GAmp is beta software but it's due to go 1.0 next month, so get your suggestions in quickly.
One of the features I most enjoy about GAmp is it's small foot print and the ability to make it transparent so it's not very intrusive. I am also very fond of it's license – GPL and he includes the complete code with every download. So feel free to tinker with it if you know VB.Net.
Screenshot from my desktop at work, using GAmp.