Aimp2
I might be preaching to the already converted here, but I recently discovered this neat little audio player that handles a lot more than just playback ~
* Audio formats supported:
MP1, MP2, MP3, MPC, MP+, AAC, AC3, OGG, FLAC, APE, WavPack, Speex, WAV, CDA, WMA, S3M, XM, MOD, IT, MO3, MTM, UMX
* Good functionality and friendly user interface
* 18-sliders equalizer and build-in sound effects
Reverb, Flanger, Chorus, Pitch, Tempo, Echo, Speed
* 32-bit sound processing
for crystal clear sound
* Works with few playlists
Listern one, work with other
* Plug-Ins support
You can add new utils or extend already exists, and connect some winamp plugins: Input, Gen, DSP
* Autoshutdown manager
* Internet-Radio
Listern and Capture!
* Bookmarks and Queues
* Hotkeys
Customizable local and global hotkeys
* Multilingual interface
Multiuser mode support
Few users works unders one computer? It's no problem!
* Full Unicode support
* File search
File search by all opened playlists
* Small distributive size
* Audio Converter
Any supported audio file can be encoded to WAV, MP3, WMA or OGG format
* Audio Grabber
Audio CD Track can be encoded to WAV, MP3, WMA or OGG format
* Sound Recorder
Capture sound from any audio device in your system to mp3, ogg, wav or wma format
* Advanced Tag Editor
Edit ID3v1, ID3v2, Vorbis, WMA tags. Grouping rename, group editing and sort files by one of templates.
* Audio Library
I don't know whether it will replace Coolplayer on my desktop, and I haven't looked into skinning it yet, but the encoder and capture facilities are really useful! 
http://www.aimp.ru/index.php?action_skin_change=yes&skin_name=english
Post replies:
Reply by: mickeblue
I knew someone was going to post that comment Look at the size of the footprint though Nikos!
Reply by: darjan
Also has many functions you don’t usually find in other players, for instance you can set fade-in and fade-out effects for smooth transitions between songs and it supports the use of skins to completely modify the program’s graphic interface.
AIMP Classic 2 lets you convert different audio formats like WAV, SMA, MP3 and OGG, automatically standardises the volume of the files without altering the original song and lets you record sounds from external devices.
Reply by: mickeblue
Reply by: Travelian
I may have a new fav player.
Reply by: netwolf56
Reply by: mickeblue
The front page is ~ [LINK] ~ but it´s in Russian so you´ll need to hit the EN button on the right hand side, when only half of it will be in Russian
I had a hard time trying to open up the player file, but fortunately some nice person over at WinMatrix pointed me to the Skinning Editor download, which for your delictation I have made available at ~ [LINK]
If only all apps had this little gem, but I warn anyone with the will to skin it... it has so many features and options that it takes a fair bit of skinning ( and it ain´t easy if you want to keep it all small )
Reply by: adni18
SkinBase Administrator
My personal site: http://www.adni18.com