We couldn't find out which formats exactly as the links to the Readme.txt and FAQ files appear to be broken as the program installs. However, it handles MP3s and WAVs, as well as MPEG video. You can't say it's just another player - it has the air of personality around it. First of all, it lets you customize everything pretty easily - note the volume/contrast/etc. controls that are the most usable so far among many media players. The other thing that strikes about this player is intelligent subtitles - you'll be able to read them in your own time, they won't just flash and go as in most movies. Download this player today and see that for yourself.