Its not bad features wise. The streaming video is neat. (Though sure to be shut down soon because all people do is stream porn and studio movies) but its definitely bloated and takes a lot longer to load/respond than Winamp 2. I wouldn't bother upgrading myself.
winamp 5 = winamp 2.x core + front end prettyness They mothballed the winamp 3 codebase all together since it was total ass. Winamp 5 is basically the next release of winamp 2.x. I've been using it for a couple weeks now and it works just as good as 2.x.
That's what I was thinking. Winamp 3 was crap. They say Winamp 5 is Winamp 2+3 I'm gonna give it a whirl