http://glass.os2.spb.ru/software/english/pm123.html
also available (9/24/2003) is version 1.21.
http://www.step.polymtl.ca/~guardia/pm123.php
PM123 is an MP3, WAV, and CD Audio player, which is now open source. Some of the features include sharing of the sound card, playlist with drag/drop support, HTTP streaming, and the use of skins
http://sektori.com/pm123/skins.php
(including some cool WinAmp skins) to change the program's look.
Thanks to Wolfgang Foerster for the info.
Source: OS/2 Warp News and Rumors