JLC´s Media Player is a cute little media player with M3U playlist support.
It´s designed to be simple and easy to understand and not contain all that stupid features you´ll never use.
And that´s why it´s only 29kb big.

Features:

• Play any media format supported by windows multimedia.
• Open, edit and save M3U playlists. (the most common playlist format)
• Open or add multiple files.
• Drag and drop files into the playlist.
• Compact and easy interface.
• Very small, only 29kb!