Just installed beta 1 of Windows Media Player 11 here at home. Wow! Pretty slick. Visually it's an improvement over the already-quite-nice WMP 10, especially with the new ways to look at playlists. Here's a screenshot courtesy of microsoft.com:

Windows Media Player 11

The "album stacks" aren't faked - you can see other albums by the same artist (or in the same genre etc) underneath the topmost one. Very cool.

If you want to try it out, you can download the beta here. Recommended!