PM123 has been updated (4/22/2005); also available (9/24/2003) is version 1.21. 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 (including some cool WinAmp skins) to change the program's look.
ftp://ftp.ptv.ru/pub/glass/pm123/
Source: OS/2 Warp News and Rumors