MP3 File Editor offers an impressive solution to managing your digital music collection on your hard drive. First of all, it's probably the most powerful playlist compiler available. You can use a search tool to find supported audio files in each of your directories. You can then filter files by album, artist or other categories, and drag and drop tracks into a playlist queue. Individual tracks, or your generated M3U playlists, may be loaded into the program's built-in audio player.
MP3 File Editor integrates with WinAmp, and can work directly with any other audio player.