Evil Player is a fast, powerful and flexible media player for Windows.

The features:

1) Nice and convinient interface
2) Small Size (less than 1MB!)
3) Audio formats supported: WAV, OGG, MP1, MP2, MP3, MOD, XM, IT, S3M, MTM, UMX, MO3
Supports BASS plug-ins
4) Lightweight- Low memory footprint
5) Radio streaming (SHOUTcast/ICEcast/ICEcast2)
6) SHOUTcast recording

And best of all it is free.

EvilPlayer Homepage