Media Player Classic is the perfect substitute for Windows Media Player. Aestetically is identical to version 6.4 and has the same lightness in terms of RAM occupation, but it has much more usefull functions. Features: with 'right' and 'left' keys it's possible to go forward/backward of one single frame; with 'Ctrl + right'/'left' it's possible to skip one predefinite quantity of frames; with 'Ctrl + up' it's possible to change faster the speed of reproduction; it's possible to visualize with media player Quicktime and RealMedia movies (but that programs must be installed); in full screen modality it's possible to show a scroll bar putting the mouse in the lower portion of the screen; in full screen it's possible to do the redimension images and adopt a cinema format or a TV format; it work as a DVD player too; keys are completely customizable; it can show subtitles.
Editor's review of Media Player Classic

Its small size, low memory footprint, and numerous features make this the media player of choice, but you must add the proper codecs to perfect this freeware.

Media Player Classic's interface reflects its title--retro, old school, basic. This single player easily replaces the four or five video players installed on most systems. The only caveat is that you must download a complete set of codecs to play your favorite video formats. Media Player Classic also easily loads and plays DVDs. We liked how you can easily increase or decrease playback speed.

This program also plays most audio formats. We were surprised this tiny player includes sound filters and playlists. Hot keys are easily changed, but some users complain the process to set a key isn't apparent. The help file isn't included, but is easily downloaded.

The promised video subtitle search and download function is Media Player Classic's only disappointment. The default subtitle databases are both offline. (By the time you download this player there may be a new database available.) The address is easily changed under Options. It doesn't matter if you're a novice or system administrator. If you watch video or listen to audio, this freeware player is a must-have program.