I have many mp3 files. I have given id3 ver1 tags as well as ver 2 tags. I want to know if this is allright ie giving tags in two places. Why i give it is that i am not sure that when mp3 players play the file, which tag it will read. Also when players play these mp3 files, from where is the filename taken for display, is it from the tags or the actual file name cause if it is the filename then the tags would be almost meaningless. please tell me the correct way to name my files.

In WinAmp you can enter both tags.
When you have entered the 3v2 tag you can copy it to the 3v1 tag, that way you have both and you only need to fill in 1.

Where no tag is entered no information is displayed, unless you have selected to display the filename. When you selected to display the filename it will look at the actual filename, that is not listed in ID 3v1 or v2 tags.