Winamp is wonderful, but it's not very good for video clips. The plugins I've found are half-baked at best. Maybe he's doing audio, but I always think video when I see "mpeg clip".
ZoomPlayer is a pretty sweet program for video playing though. Uses DirectShow filters and ACM codecs to play files (that is, if Windows Media Player can handle it, ZoomPlayer can too), but it's a lot more lightweight the WMP 7/8 and a lot more powerful to boot.