Media Software? I would have to say that Windows Media Play right now because I use it for so many things. I know that there are probably better media players out there (I just started experimenting with VLC media player) so that could easily change.
Well this might be a surprize but I guess I would have to say that it is my good ole alarm clock. Sure it only plays am/fm and is about 25 years old but without it I would never get to work on time and I would have no idea what the weather would be like that morning. Ditto my car radio
As far as a DVD movie media player on my dinosaur computer, I prefer Power DVD over Real Player and Windows Media Player because it seems to require much less horsepower to run smoothly. As far as audio capturing I tried Audacity, but I think it has a clumsy interface. I recently purchased Roxio to transfer cassette tapes and vinyl records to CD, but I haven't tried it yet.
I never did figure out how to record from my VCR to my computer. This new computer apparently doesn't have the TV card or whatever, but my old computer did. I just never figured it out. It would be cool to do my albums to CD, but I don't have any materials to do that.
By the way, now that I've used VLC for a while, I find I go to it first over WMP. I like it a lot.
Audio: Audacity. It's great for modifying sound files - a bit more than most people need, but it gives you room to grow. I also find AudioGrabber - a little know piece of freeware is the greatest ripper EVER. It even allows you to copy CD+G (karaoke) discs to MP3 + G files, to play with winamp using the CDG plugin. And I play music on Winamp. I just like the way it works., but I do prefer an older version to the new ones, much less CPU - intensive. Video: SUPER. It's a front end for a couple command line programs and it can convert ANYTHING into another format. DVD fab (not freeware... ) for backing up a DVD. And I like Power DVD, simple, easy to use, low resource user.