I use
PowerDVD. Mine is the latest version and it does fine for me.
I have a friend who uses the Nvidia PureVideo decoder and it does a good job too. There are three versions, but I don't remember which one he has.
I've tried VLC, older versions of
WinDVD and Media Player Classic, and they work. The only one I can remember off the top of my head that I had problems with was
Nero Showtime. I wouldn't recommend it at all.