If you are looking for an application geared toward managing extensive music collections, easy to use and with a comprehensive feature set - MusicBee is that application.
MusicBee makes it easy to organize, find and play music files on your computer, on portable devices and on the web.
MusicBee 1.1 includes many features to make managing and playing music a great experience. The latest changes are described in the release notes and if you have already installed MusicBee 1.0, you can download the changed files and copy them to the MusicBee application folder yourself.
Product page: here