This is a Media Player that is Open-Source!
Seed this out! :D

VLC media player (initially VideoLAN Client) is a highly portable multimedia player for various audio and video formats (MPEG, DivX/Xvid, Ogg, and many more) as well as DVDs, VCDs, and various streaming protocols. However in recent years it has also become a extremely powerful server to stream live and on demand video in several formats to our network and the Internet.

It started as a student project at the French École Centrale Paris but is now a worldwide project with developers from 20 countries.

VLC is built in a modular way. This means that you can choose from a range of different modules to decide how to control VLC and how to display the video output.


Changelog:


# Decoders:

Native support for WMA Professional, without the use of the Win32 dlls

Fix issues in subtitles, especially SSA ones

Various fixes on theora and ogg


# Demuxers:

Various fixes for EPG support in MPEG-TS demuxer

Fixes for potential stack overflow in .avi, .mp4 and .asf demuxers


# Access:

Fixes for v4l2 devices

Fixes for dvb-c channels-scanning


# Qt Interface:

Fix some playlist sorting issues


# Mac OS X Interface:

Fixed a crash when updating VLC

Fixed a crash related to QTKit when opening video files (10.6 only)

Added the ability to play 2nd media in sync to the primary item (input-slave)

Added the "Quit after Playback" feature


# Mac OS X Port:

The "Delete Preferences" script is now delivered as a Universal Binary
with native code for PowerPC, Intel and Intel 64bit

Full 64bit runtime compatibility on both Mac OS X 10.5 and 10.6
- no support for Goom and SDL
- limited text rendering support
- This port is still considered as EXPERIMENTAL despite its binary release.


# Encoders:

MPEG2 transrate stream output removed

x264 default-values closer to x264.exe defaults.

x264 rc-behaviour fixes:
- if user defines qp-value, CQP-mode is used
- otherwise if user defines vb=0, CRF-mode is used
- otherwise ABR-mode is used

x264 set vbv-bufsize/vbv-maxsize better if user hasn't defined these:
- ABR mode set vbv-max-bitrate=bitrate
- vbv-bufsize is bitrate * seconds between keyframes (keyint/fps)


# Playlist:

Lua scripts for Mpora and Vimeo playback


# Unix builds:

Various fixes to enable 1.0 to build on Solaris and OpenBSD


# Translations:

New Kazakh and Croatian translations

Lithunanian translation is available on Windows

Galician, Korean, Nepali, Vietnamese, Ukrainian, Brazilian, Arabic and French translation updates


ED2K Link:
ed2k://|file|vlc-1.0.2.tar.bz2|20958212|5DAE9849BE421F1D6FD5A0BF232FD094|h=43X5JICO3SKKYENFAHHE7EXSVK2SLEOW|/



Comments from the uploader (olofolleola4):
Here you have a long list of features in VLC media player: 
http://www.videolan.org/vlc/features.php