Winamp is hardly bloated even with most of the features installed, my current 5.53 install is taking up 25 MB of HDD space and under 10 MB of memory while running not minimized. It's never really crashed for me on XP or Vista, just the occasional hiccup with losing sound after playing from Last.fm or something like that. For me Winamp can't be beat due to its customizability, Shoutcast radio stations, and the ability to browse the web from within it (great for Pandora, for example). If all you do is play music from Explorer I guess a lighter app is suitable, but if you want a full featured library and great extras I think Winamp wins hands down.
If you want to keep using it but are getting crashes, try upgrading to the latest version, using the default skin, and no plug-ins, and post your system specs and the conditions under which it crashes.