Your are going to do (or have done) a clean install? Hold your horses, I mentioned that I was going to track down the offending plug-in and update this thread. Anyways...
Found it, DrO's Skinned Preferences 0.7.5.0 alpha (DrO again, I should have known
Issue disappears if plug-in is removed from plugins folder or when disabled in Skin Prefs options.
Reproduced on two computers of same model and similar specs....
Winamp 5.12 Full
Windows XP Home Edition with Service Pack 2 (SP1 on other computer)
DirectX 9.0c (9.0b on other computer)
Dell Dimension 4550
Video NVIDIA GeForce MX 420 (Recently updated display drivers and nView disabled)
SoundMax Integrated Digital Audio (Analog Devices, Inc.)
Pentium 4 2.0GHz
Moving from WA Tech Support to WA Discussion