Light Alloy 

Light Alloy is a media player alternative to Windows Media but with many extra features. Play video and audio files on low memory consumption and very light on system resources. With the program users can visualize AVI, DVD, DivX, MP3, WMA, WMV and other multimedia formats.

It has a friendly user interface, and one of its features which makes it a better alternative to Windows Media Player is that it can take screenshots of the videos being played (they are automatically saved to the My Documents folder).

Light Alloy has multiple video controls like zoom, aspect ratio, brightness, contrast, and sharpness. It can play partially downloaded or broken video files, and also detects automatically codecs if needed.

The program also allows users to set custom video resolutions and customize keyboard and mouse actions. Additionally the program is capable to resume videos where left playing thanks to marker saving. It supports subtitles, different fonts, color, transparency, and background.

New additions include 3gp video support, Winamp general plugins support, user interface changes, Win 7 support and playback speed control. Nice alternative, try it and find this and many other features.