sometimes this site is like tech poetry in motion yes.
I use three
For general consumption (read the misses) windows media center. I run the output to the big screen tv, controller by a wireless keyboard. (some azzhole stole my ms media player remote control) OS is Windows 7, has an updated media center that works like a champ. A fancy front end to WMP but slick enough to earn a space in the living room.
For down and dirty vid clips, media player classic. (I like the seek in media player classic, more robust and incremental than in VLC)
When all else fails, VLC. I don't think there is a clip on this planet I could not play with VLC. lol
Well save for some nokia 3gp files that wouldn't play with audio, had to get a special 3gp player for those but that is super rare. VLC really handles just about every and anything, out of the box. No codec packs, nada.