CrystalWolf Audio Player is a completely free audio player that supports MP3, WAV, WMA, FLAC, APE, MP4 audio, M4a, M4b, AAC, OGG Vorbis, ALAC, MP1, MP2, MOD, MO3, MPC, WV files out of box. No additional plug-ins are necessary, just drop your music into it and enjoy. You can drag and drop files or folders from Windows Explorer to start playing them. User friendly multilingual interface, full support for Unicode. System wide hot-keys can be used.
The player produces high quality sound. On the other hand, it is pretty small and doesn't eat much of system resources.