What say you?
Best for what? Recording, watching, something else?
Just watching. I'm not trying to do anything fancy.
By Media Center alternative, I take it you mean HDTV DVR functionality, right? If so, there is no alternative that really can do it properly. There are fancy solutions to watch media files, but nothing really can behave as a centralized place to watch and record actual live HDTV from a cable company with zero issues.
VLC (http://www.videolan.org/vlc/), MPC-HC (https://mpc-hc.org/downloads/) both free, both play 99.9999% of the stuff you want. They don't play any protected content though, you still need media center for that.

 
				
		