BSoftPlayer

BSoftPlayer is an open-source (BSD) SQL datbase (SQLite to be exact) based MP3/WMA/Vorbis player. It uses ID3lib to read ID3v1 and V2 tags, has a nice interface, customizable keyboard shortcuts, instant find (similar to jump in Winamp), searching, browsing by artist/album.

The only dependencies are included in the <1MB installer. No spyware, no tray icon, no advertisements, no desktop icons. In the future, it will be a whole lot more, but for now, it is still a work in progress. That doesn't mean that it's not usable, however.