1) Another user suggested a better default codec pack and suggested the K-Lite Codec Pack. However, I prefer the Ace Mega Codecs Pack (along with going to sourceforge and downloading the real latest version of Media Player Classic).
2) If only Winamp, as an freeware, voluntarily maintained application, had the numbers and financing of other much-loved apps like Mozilla Firefox. I think somehow, since Winamp can play just about any kind of audio and many types of video, Winamp should be able to come out with it's own portable music player.
Advantages? Well, a recent creation you all may have heard about is: Pirate Bay. A huge darknet where filesharing is free and unrestricted. Fabulous. What if there was a pod available with all of Winamp's capabilities plus a wi-fi ability, so that people can listen to music not cached on their own players inside a cafe or something, much like already popular wireless internet cafes??
Crazy possibilities, don't you think?