VideoLAN's VLC media player, arguably the world's best media player, hit version 0.9.9 in early April. Three months and more than 78 million downloads later, VideoLAN has announced VLC 1.0.0, or "Goldeneye."

Your media will never be the same.

In fact, with VideoLAN's VLC media player, it doesn't have to be. One of the amazing things about VLC is that it can play anything that you've ever even thought about playing. That random media format that one site in Ecuador requires--VLC likely plays it, while Windows Media, Apple QuickTime, etc. likely will not.

This is, in part, a natural result of VLC's open-source heritage.

More here and here