VLC Media Player is one of the first options when it comes to picking your favorite multimedia player. It is, by definition, an application that supports virtually all formats, regardless of their audio or video nature. 
The Portable version sports the exact same functionality as the standalone edition; we dare say it is even more advantageous than the latter, since you can carry it around on a removable drive and it doesn't affect the computer's registry. 
VLC's interface perfectly matches the idea behind this product: a simple GUI wrapped around a very powerful application. Although the GUI is not that special, the application still makes an excellent choice for those who just want to open multimedia files without wasting their time.
For those of you who desire a fancier interface, VLC Media Player provides skin support and a various selection available on the developers’ website. Aside from possibilities to adjust the player's appearance, VLC also features tons of options meant to allow you to configure its functionality.
The program also displays a wide variety of information regarding the currently opened files. The available plugins further enhance the experience of using an already comprehensive application. VLC media player packs conversion and streaming capabilities alongside video and audio capture. It also supports HTTP, RTP, MMS and RTSP stream playback.
You can further enhance your video and audio streams by accessing the available Adjustments and Effects panel. The selection will provide users with a 12-band audio equalizer and presets as well as a Spatializer for better acoustics according to your room dimensions.
On the video side, the selection of effects goes beyond basic - you can choose between crop, color fun, image modification, AtmoLight, logo or more advanced filter controls. In addition , you will be given the ability to perform synchronizations of audio / subtitles and video streams.
All in all, VLC is one of the best multimedia players you can get. It comes with a configurable interface, excellent functionality, ease of use and it supports any audio / video format. This one is definitely a keeper.

What's New in This Release:
Audio Output:
· Improve playback synchronization with PulseAudio.
· Fix ALSA digital pass-through ("S/PDIF").
· Fix live audio device selection on Mac OS X
· Fix detection of some 5.1 and 7.1 kits on Windows.
· Fix audio output behavior when the output device is plugged or unplugged
· during playback on Mac OS X
Access:
· Fix numerous DVD (dvdnav) crashes
· Fix HTTP playback through proxy and advertise gzip correctly
· Fix TLS busy-loop during client-side handshake
Codecs:
· Support for Opus decoding via libopus, including multi-channel files
· Support MSS1 and MSS2 decoding through DMO libraries
· Fix Hebrew and Greek subtitles encoding
· Fix crashes on malformed subtitles and malformed png files
· Fix crashes when using hardware decoding
Demuxers:
· Fix issues in Ogg with zero length packets
· Fix file duration of Ogg/Theora and Ogg/Vorbis files
· Fix vimeo, koreus and youtube lua parsers
· Support Youtube live streams
Windows:
· Fix Wallpaper mode on Windows 7/8
Qt:
· Fix media info dialog update
· Fix random/repeat ...