BSplay is easily the best media player I know. I've tried lots of others, but I'm always going back. Haven't yet seen any player that's got an interface as smart and as responsive. There are keyboard and mouse shortcuts for basically everything. 'F' switches between fullscreen and windowed mode
instantly, whereas many other players take a short but noticable moment for that. Support for subtitles is excellent as well. It's skinnable, too, though I'm still using the boring default skin - I rarely if ever use the normal interface anymore.
RadLight is slick, too, with a cute interface, but IMO BSplay remains more powerful - not to mention that RadLight isn't freeware and went as far as to sabotage AdAware on installing. So, not really recommended.