Yeah, and the new default Winamp skin (Bento, or whatever) doesn't have it. :(
I still can't get over just how brilliant the design of the strip mode is. Just look at it! Look how neatly it fits into the title bar of the window, utilizing the screen space that would've otherwise been completely wasted but leaving all the menus immediately below it perfectly accessible. And it has all the controls, volume and seek sliders, playlist, media library, and equalizer toggles, repeat, shuffle, heck, even the color changer!
Like I said, I have yet to see a media player with user interface this well designed, and if somebody points out one that isn't as bloated as Winamp I'll switch to it immediately.

For the whole shiny/modded/bling customisation. I much similar in disinterest. 99% of the time I just have it running in the background and only turn such options on for visitors. Columns UI is great though I will admit.

Exactly. When it's just an icon in the taskbar 99% of the time, what's the point in making it all shiny?

Well this contradicts the bloat part but media player has a full control on the taskbar option

VLC, Media player classic home cinema for videos and Foobar 2000 for music.

My taskbar is already fairly cluttered, so I'd prefer the player to be in the unused screen space at the top, plus yeah, WMP has an even worse case of the bloats than Winamp. And it's ugly. And it doesn't have a "repeat one" setting that I could find.

Shameless plug for the music player I made.
I named it Kajammer because I'm uncreative.
If anyone wants to take a look at it.
http://sourceforge.net/projects/kajammer/
It only works on Linux because that what I use 90% of the time.

I've just been playing with the new foobar, and the UI has been vastly improved since I last used it, and it's very easy to customize. I gave Columns UI a blast too. Whilst a little prettier then the default setup, it did lack a search feature that I could find.

I'll be the oddball and tell that I use iTunes for my music library (mostly just everything on random a.k.a. iTunes DJ) and Windows Media player for video (don't keep those in a library, however).
Doesn't take up all the screen in its mini mode, and integrates well with Aero Peek.

Windows Media Player.

VLC all the way.

Windows Media Player for my videos and "videos", iTunes for music. Yeah, corporations love me.

iTunes to manage music library + foobar2000
Media Player Classic for videos

Windows Media Player 12. ;)

Foobar2000, VLC, and MPC in combination with CCCP.