Karma Player

Karma Player is your typical audio player that's using a Winamp-styled GUI and BASS audio library. Thanks to its similarity to the mainstream media player, this tool is a familiar ground for those who look for alternative music players.

Familiar interface

As mentioned before, the player has a very familiar interface that's similar to that of Winamp. You get your main control panel, equalizer, and its internal playlist, which apparently is somewhat different from the main playlist where users can import and save songs.

Competitive features

Since it's based on Winamp, the program comes with a bunch of nifty features that don't really differ that much from the other more known music players. The app is even lighter and less resource hungry.
Some associated extensions are more common while others less so. WAV, AIF, MIDI, MP3, OGG, MP4, and FLAC are just some of the many file formats the player supports. Users can import and export them playlist from/to Karma Player's own KPL format, Winamp's M3U, or PLS.
Among other features, the media player also comes with a function simply called 'dj-ing' that allows users to do some manual play, repeat certain songs, play songs randomly, and jump to the next selected song in the playlist. There are some shuffle and repeat song options.
However, despite the limited features in the application’s interface, it is rich in customization options. Users can change the sound core from 'General' to 'EAX' and 'Direct Sound,' alter the sound frequency, allow 8-bit mode for older songs, and permit tons of plugins to be installed via custom inserted DLLs. Tags can be changed and converted, while multiple instances of Karma Player can be opened.

Conclusion

Karma Player is a powerful application dedicated to play songs of all imaginable formats. Although it has a lackluster interface, it can be tweaked heavily and allows players to change and customize everything, from the sound core, to plugins, and more.
Overall, if you look for a less resources hungry and just as customizable alternative to Winamp, look no further. If you can ignore the limited options in the program's GUI, you'll find its stability and flexibility a more than welcome similarity to Winamp.