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AVS DVD Player (freeware) - Win
AVS DVD Player is a compact and easy-to-use program that has a simple user-friendly interface allowing you to start watching DVD movies with no additional software.
http://www.avsmedia.com/DVDPlayer/index.aspx

BSPlayer (freeware) - Win
BS.Player™ is the first player ever to enable its users to focus on watching the movie instead of dealing with poor computer capabilities or running around looking for a proper setting and codec.
http://www.bsplayer.org/

Democracy Player (freeware) - Win/Mac/Linux
Stop squinting at tiny web video. Instead, download and watch all the best internet TV shows in one powerful application.
http://www.getdemocracy.com/

GOM Player (freeware) - Win
Credit goes to Yellow5. This is a nice media player that search for codecs that it does not recognize.
http://www.gomplayer.com/

MediaPortal (freeware) - Win
MediaPortal is an Open Source application ideal for turning your PC / TV into a very advanced Media Center.
http://www.team-mediaportal.com/

musikCube (open source) - Win
musikCube is an mp3 player. It helps you just listen to what you want to hear, while offering innovative features not seen elsewhere.
http://www.musikcube.com/

Riva FLV Player (freeware) - Win
This free tool displays single FLV video files and plays them back.
http://www.rivavx.com/index.php?id=422&L=3

Songbird (open source) - Win/Mac/Linux
Songbird is a Web player built from Firefox´s browser engine. Songbird is open source, will run on Windows, Mac OS X and Linux and supports user contributed, cross-platform extensions.
http://www.songbirdnest.com/home

VLC media player (open source) - Win/Mac/Linux
VLC (initially VideoLAN Client) is a highly portable multimedia player for various audio and video formats (MPEG-1, MPEG-2, MPEG-4, DivX, mp3, ogg, ...)
http://www.videolan.org/vlc/

Winamp (freeware/shareware) - Win
[$19.95 for pro version] Play audio, video and internet radio stations.
http://www.winamp.com/