Winamp plays MPEG Layer 2 (MP2) and Layer 3 (MP3) audio streams and combines extensive functionality with an intuitive interface. Winamp has a full-featured playlist editor and a 10-band graphic equalizer with user-definable presets that can automatically load specific files.
The first major update of Winamp was Winamp3. It had video support, new skinning system, and a redesign of the plug-in system. Unfortunately, it was poorly received and widely criticized. To fix this embarrassment, Nullsoft decided to integrate Winamp3 skin and script support into the Winamp 2.x platform. Thus, Winamp 2 plus Winamp3 equals Winamp5 (released December 16, 2003). Upon release of Winamp5, Winamp3 was spun off as the Wasabi.player, an open-source equivalent to Nullsoft’s Winamp. Wasabi is a mostly open-source (zlib-licensed), cross-platform application framework and skinnable GUI toolkit, developed by Nullsoft.
New features in Winamp 5.0 include support for classic Winamp 1.x/2.x/2.9x skins and Winamp 3 (“Modern”) skins, vastly more powerful media library, CD ripping support (AAC@2x in free version, MP3 at unlimited speeds in pro), CD burning support (limited to 2x in free version), advanced title formatting logic for file types that support it, huge AVS updates, support for playback of AAC and VP6 in NSV files/streams, global hotkey support, new Signal Processing Studio DSP plug-in, options to disable plugin exception handling for developers, new Winamp icon, added XP Manifest.xml to winamp.exe, made agent icon use configured winamp system tray icon, optimized winamp’s load titles on demand logic, made faster, made winamp’s internal submenu management more reliable, added skin font override preferences, and added spacebar shows current playlist item in playlist editor.