QCD has developed into a stable and mature player. What I really like about it is the superb skin support and user friendly features.
Until a few months ago I took the view that Winamp2 was the only really good player. I still use Winamp2 sometimes and find it lacking features and overall very raw, since using QCD.
QCD has excellent Tag editing features such as autotag, file renaming from Tags, multi file tagging, etc.
QCD's playlist support is much better than Winamp2. It will save updates to a playlist, add muyltiple playlists, right clicking gives a Quick Track selection which is neat. It has a lightening fast search where you can search for something and then play the resulting found tracks. It will also an auto load feature that will watch "a download directory" and load any new tracks into the playlist.
Using the QCD plug-in Elephant you can also call external programs. I use this plug-in to call EAC, ReplayGain, Nero, Tag&Rename all from within QCD. This turns it into a very powerful total media application without all the bloat.