I'm not sure if this is what ericpires mentioned but go check it out: http://googlesystem.blogspot.com/2006/06/h...und-better.html

I've used foobar or a while and it's really good. It has a more detailed equalizer config and loads of component to make your audio experience better.
But in the end I reverted to Winamp back since it has a more easier and efficient library management and many choices of skin. If you've a good set of speaker, soundcard (any better onboard soundcard is enough) and nice player config (equalizer or dsp), then Winamp should be enough.