I whipped up the original Graduate WinStep theme a couple of months ago. Since then I've been using it constantly, which made me think that it's time to skin a few more apps and make a small suite. I ended up with skins for WinStep, WindowBlinds, SysMetrix, QCD Player, ColorPad, Rainlender, and a new wallpaper.
The QCD main body is a small bar that can sit pretty unobtrusively on your desktop without taking up much space. It's still pretty full featured, though, and the slider bars for volume and position give you pretty good control over the player.
There's even an extendible, detachable playlist that contains all sorts of options for searching and managing the playlist. The bottom of the playlist also has a button that allows you to switch color modes from red highlights to blue highlights.