VLC is a free open-source versatile media player that incorporates a massive, truly impressive amount of features and functionalities.
VLC comes with support for almost all existent codecs (audio, video), including MPEG-2, DIVX, H.264, MKV, WEBM, WMV, MP3, etc, allowing the user to hassle-free enjoy movies, video-clips, audio files without further installing additional tools.
VLC 2.0.6 has been officially released, presenting itself as an "important update" in the 2.x VLC series.