Well this really depends on how powerfull the function you want for the player, here are some cool ones for ya:

Apollo 37zz (End Version)
This is a high in sound quality pure audio player :Thmbsup:, support DSP plugins, playlist...and so on.
Official site: http://koti.welho.com/hylinen/apollo/

CHKenPlayer v10 (English)
A very small Multi Media player 31KB only :tellme:, it can playback video files but with external video codec install only, comes with a small playlist.
Official site: http://www.chken.com/ViewSoft.asp?id=1

KMPlayer v2.9.3.1214 (Latest Stable Version)
The best and most powerfull Multi Media player I ever used, self support to playback almost all common file types without installing external codec (exp RealMedia files) superb in sound quality as well in movie decoding, support DSP plugins and hell lots more powefull functions too long to list out. It's consider a good replacement for Winamp, and it's Open Source Software :Thmbsup:.
Official forum: http://www.kmplayer.com/forums/showthread.php?t=4094

DragKing is a good tool, I love it a lot! But can you reduce the resource usage of DragKing? It has taken about 4M of the memory, it's consider a high resource usage for a small and simple program. :(