Crystal Player is an awesome free software. It does have a "pro" version, but the pro version is not able to do what I use the free version to do. I use the free version as a standalone video player that supports all of the normal video codecs. I first discovered this software when looking for software that could work directly off of my flashdrive, since then I have fallen in love with it. Whenever, I need to play a file at home I use DivX, but any other time I will always use Crystal. Its original homesite is here.
If the official site is down get it from me here.