I am using VLC media player in my computer for the past 4-5 years. It is one of the best media player software I have ever used because it can play any type of video whether it is mpeg video, avi video, 3gp or even hd video and with good sound output.
I mainly use VLC media player to watch movies and use it 2 or 3 times a week. The quality of video played by VLC media player is always good. It can play any type of audio files also and I also listen to some mp3 audio songs on it.
The best feature of VLC media player is that you can take a snapshot during running videos. The other good feature is visualizations which you can use while listening to audio songs and enjoy watching some good visualizations during audio playback. So I am quite happy using VLC media player.