Looking for a better video player

I am looking for a better video player than the WMP and Dix X (free) I use at present. Specific feature to include ability to step forwards and backwards a frame at a time and a smooth FF/Rewind. I find the current players are too insensitive for my needs. It would help if the video player will also do image captures. Free would also be good.
What do people advise?

You might want to check VLC from www.videolan.org

free, tons of language, uses it's own codecs, plays almost 99% of what's out there and works flawlessly.

Thanks - I've tried VLC but can't get the frame by frame advance etc. It may be the version I am using. Agree it is great for playing most formats, especially the one's WMP won't touch.

KmPlayer. Korean Media Player. Its awesome, multiple playlists. Automatically remembers the position of a played file. So you can stop and start a video and it will start where you left off. It also plays everything under the sun.

http://www.kmplayer.com/forums/showthread.php?t=4094

Its a great video player, and the only reason I haven't switched to Ubuntu is because I couldn't use this player in linux.