WMP does not play Real Audio but I have used it for everything else since a few months after 7.1 came out and I got a faster hard drive (5400 was a lot faster than a 4200 Bigfoot). RP used to be a total pain, nothing compared to what WMP ever was but it is just as good as any player nowdays. Hell, I'm using it right now to stream MP3s since WMP doesn't do it and I have not installed Winamp in 3+ years.
In fact, I am using RealOne Player version 2.0, maybe one was bad (never tried it) but 2.0 is just fine and it doesn't take over anything. They have this browser in it but it is very fast, I always have it closed (you only have to close it once and it stays closed) and jut the player open.