Billy is something different than your normal audio player.
This piece of software supports common audio files such as MP3, WAV, OGG. There is the ability to have a playlist, and allows searching and queueing through it. Any player does these things, of course.
Billy is different in that it is 2 to 8 times faster than Winamp. For example, in Billy performance tests opening 4000 tagged MP3s takes about 4 seconds to load up. In Winamp, which is considered fast, this same task takes over one minute. Other players are just not optimized to handle such a load.
Billy also uses half the memory as Winamp, and has 28% less CPU load in its decoding engine.
For those who have experienced lag or stalling in their current audio players, but don't have the need for fancy graphics or skins in their player, then Billy is the perfect option. It is freeware, works on any version of Windows from 95 up and is small enough to fit onto a floppy disk.