Here's a short list of what I really need in the next version of Windows
Media Player:

1. BOOKMARK A MEDIA FILE (wma and wmv)
Easy way to place a stop/resume marker on a media file. Often I'm listening
to a long (say 1 hour) digitized speech or watching a captured movie and have
to stop at some point and resume later. The current play progress indicator
slider is too inaccurate to get back to the point where I paused/stopped,
especially on the Windows Mobile version, so this leads to frustrating
fiddles with with the slider, and it's never accurate enough to get where I
left off.

2. PRECISELY ADJUST VIDEO SIZE DURING PLAYBACK, CROPPING OVERSCAN / LETTERBOX
I've digitzed my 400+ video and DVD collection, plus all my family videos.
I live in a PAL world (720x576). Because video capture digitizes the entire
video signal, most captured WMVs have artifacts at the top, bottom and sides
of the video image, and these are frustatingly visible when replaying through
a projector or computer screen - these are NOT visible on a CRT TV because
the bezier usually hides the video edges ouside of the 'video safe' area.
Also, I have many 16:9 videos that are letterboxed in the 4:3 format. It
would be really great if there was a way of manually adjusting (eg with
ctrl-cursorkeys) the picture size, especially in full screen mode, so that
the top/bottom/side edges of the video are cropped or not displayed during
playback (to hide the artifacts, or to get a 16:9 letterboxed video to fill a
16:9 display without showing the black edges).