Media Player Classic & K-lite Codec Pack
You have to download K-lite Mega Codec pack (30MB). It contains different types of codecs and Media Player Classic. After installing this beautiful codec pack and Media Player Classic you can play DVD, VCD, DivX, XviD, MP3, MP4, Real Video, Quick Time Video and many other audio and video formats. So you have no need of another media player. It is the One I Use