It's still lacking in some features, but it does work.

Features:
- Browse to files located anywhere using the gsgetfile.dll (included in zip file).
- Save playlists anywhere.
- Import entire directories recursively.
- Edit existing playlists.

Note:
Copy gsgetfile.dll to windows, exe anywhere.

Install:
Simply unzip the files into any folder you like. No Desktop installer or .cab files.

Update Description:
v1.6:
- Now should work with versions of WMP before 10. Before WMP10, entries cannot look like URLs (with "file://" prefix on local files).
- WMP10 doesn't care either way so ASX output configurable from File menu.
- Fixed typo of "Software" in Registry key, oops.

v1.5:
- Adds Editing of ID3 v1.1 tags. v2 tags coming in the future.
- Greatly improved ASX loading. Should load any valid ASX playlist.
- Remembers last browsed load folder and add folder between subsequent runs.
- Some UI tweaks including new menu items under the "Edit" menu.
- Delete now selects the next item.

v1.4:
- Supports specifying a filename to open so it can be launched for playlists with OpenWith.

v1.3:
- New VGA Icon.
- Added Import directory button to toolbar.
- Changed file selection dialog to now list many common music formats, no having to choose mp3 everytime.
- Rudimentary ID3v1 Tag support - automatically build the playlist entry from the ID3 tag if present. No editing capabilities yet.

v1.2:
- Entirely new, improved interface.
- Now supports ASX, M3U, and PLS playlist formats.
- Can convert between formats.
- Improved Import of existing directories.
- Supports Landscape.
- VGA Aware.
- CAB installer.
- Handles both local and streaming files.