Here is my vote first to Windows Media Player 9Beta.
it allows me to encode to the latest Windows Media Audio format (version 9) which allows me to choose VBR50 to rip Audio CDs. I don't use the Protect Content function as I want to back my music collection up to CDRs. There are so many new features I like in this version, although there are more to be expected in the future. I hope those features will be present in the final build of this player. Unlike MusicMatch JukeBox this player, automatically adds the appropriate Album Art to the Album folder. Unlike any other player, it is very well integrated with Windows as it acts as a mini player in the Windows XP Task Bar, which I likes very much. It has got many other unique feature which cannot be described here.