Originally designed for Linux systems, MPlayer for Windows has available for download from various sources. MPUI-HCB is one such application which is an easy-to-use Windows front-end. You can play hundreds of different video and audio formats, including MPEG-1, MPEG 2, DivX, H.264, MP3, Ogg Vorbis and AAC.
It playback different files, network streams and supports drag and drop ( drag and drop a media file to the desktop short cut), multiple audio and subtitle tracks on DVDs, lyric in rar, 7z, zip and multi-volume archive.
You can download latest version of MPUI-HCB from here. Installation is just like any other Windows applications. Even though this Windows front-end provides some mouse control, you can control everything via keyboard. For example:1 and 2 for Brightness, 3 and 4 Contrast, 5 and 6 Hue, 7 and 8 Color, 9 and 0 Volume, etc (Complete shortcut keys available with the application). Install it and see how easy it is!