Sorry, I came back and read my last post and it came off a little strong, apologies, and it's too late to edit it as well.
Here's a better reason for my choice:
There are many multi players and they all have their pros and cons. But using a stand alone for both audio and video, I have found that foobar and vlc play their respective formats better and with using less system resources than anything else around. foobar's tweaking and customization abilities alone make it a very nice player, let alone the more in depth eq and sound quality. And for video, VLC just plainly plays almost anything you throw at it out of the box (so to speak).