MPlayer is a movie and animation player that supports a wide range of codecs and file formats, including MPEG 1/2/4, DivX 3/4/5, Windows Media 7/8/9, RealAudio/Video up to 9, Quicktime 5/6, and Vivo 1/2. It has many MMX/SSE(2)/3Dnow(Ex) optimized native audio and video codecs, but allows using XAnim's and RealPlayer's binary codec plugins, and Win32 codec DLLs. It has basic VCD/DVD playback functionality, including DVD subtitles, but supports many text-based subtitle formats too. For video output, nearly every existing interface is supported. It's also able to convert any supported files to raw/divx/mpeg4 AVI (pcm/mp3 audio), and even video grabbing from V4L devices.
Xvid (formerly XviD) is an open source MPEG-4 video codec, implementing MPEG-4 Simple Profile, Advanced Simple Profile, and Advanced Video Coding standards. It is written in C with assembler optimizations for quality and speed (including MMX, SSE, and 3Dnow! code for i386 and AltiVec for PowerPC), and is especially optimized towards offline, multi-pass compression for storage and archival purposes.