Been trying various Ubuntu media players over the weekend and haven't really found anything I liked. I never cared for Totem, Rythmbox was okay and Banshee while nice had issues with a big chunk of my music library and M3U files as well. Then earlier I got a comment on my Blog entry
Sound Issues Fixed Themselves? when I was advised I should try Amarok.
What I really like is the two pane drag & drop interface. Simply double click or drag the song to add to the playlist. Since it reads the tags, it gave me a chance to clean up files that had messy tags. What was really cool is you can bulk edit multiple files at once. Example I had several where the artist's name was misspelled. Since the misspelled files were all grouped together I was able to fix them all at once.
Amarok has a lot options, some that IMHO are not really needed or become annoying very fast such as the On Screen Display. But that can be turned off. There are multiple ways to view and sort your collection including an 'iPod view' Best of all FoxyTunes supports this player. The developer did send me a beta version of FoxyTunes to try out with Banshee but it kept causing Fx to crash.