K-Lite Codec Pack (64-bit)
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Full user review
"Excellent ammendment to the 32-bit version"
Allows 64-bit Windows users to activate thumbnails for Windows Explorer.
Allows Windows Media Player to play virtually any video file format
None that I have found yet.
While all of the various filters and codecs are available from their native sites (or I assume they are), K-Lite does a fantastic job of collecting them all and presenting them in one easy-to-install package, and keeps them all updated with the most recent versions. Somebody puts a lot of work into this, and then passes it on to us for free. How can you improve on that?