MPC-HC is a good player on Windows, but VLC 2.0.x has been better in my experience. MPC-HC cannot handle some files that VLC plays fine, and I have not noticed any video quality difference between the two. I have stuck with CCCP for MPC-HC, which requires putting a bit more time into MPC-HC than just downloading VLC.

There are some files that MPC-HC does play that VLC does not, but these are fewer in my experience than the reverse case.