The two leading candidates seem to be WinDVD and PowerDVD. I've used WinDVD for a couple of years, and I really like it. I've heard that WinDVD also doesn't have problems running as many DVDs as other software decoders, but that's just what I've heard. The newest version supports software DTS decoding, which is a nice feature, but I haven't tried that version yet. You can pick up an OEM copy of WinDVD from someplace like Ability Wholesale for a couple of bucks, but retail it costs a lot more.
I think PowerDVD has a demo version you can download, as does WinDVD, so you should download them and see which one you like better. It all comes down to what you like, not which is better, since they both do the same things.
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