I know its been out for a little bit now, but I just downloaded it. Why, you ask? Because I have a P1 233 and a 486-50, so I try to stay away from things that are too graphically intensive. Thus, I have shyed away from getting this, believing it to be just an update to the shiney version 3. I began to wonder as I saw adds that stated that it was ver2+ver3=ver5 so I looked into it. I was a bit worried when I saw the minimum requirements that listed among others a 500mhz processor. Thats a bit faster than what I have, but I tried it anyway. I downloaded it originally for the 486, being afraid to try anything on the 233 because it's not mine. I was pleasantly suprised. It actually works on the 486. Of course I can't use MP3s, but as a CD player it is just fine. Happily I went to the 233 and downloaded it, and low and behold it worked there too, albeit a bit slower than ver2, but not too bad. Then I looked at the 'modern skins'. I immediately downloaded a few, skipping over the basic (because in my experience the Winamp Basic skins aren't visually pleasing) and got a few that looked cool. Again, they ran, a bit slow, but they ran none-the-less. They were a bit taxing on the processor, so I switched over to the basic to see if it was better. It was. Then I saw the config button. I pressed it and beheld the mightiness of color themes. Oh Lord, there are a million there. After settling on one, I decided to write this. Not because I hate winamp and the new versions, but because I am pleased that they found a way to cater to the new school, but still be able to show support to the older crowd.
My opinion: Winamp 5 is a good thing, even for those of us without an up-to-date PC.