foobar2000 is my favorite music player. It is very lightweight program which even runs on Linux under Wine. It is components based so you can install additional features into it like users can install plugins to improve Winamp. I would like to list some of the best components you should install:
Windows 7 Shell Integration – This component enhances the preview window in Windows 7 with play controls, progress bar and album art preview. Very similar to the feature in Windows Media Player on Window 7.