NMEGE I don't like the way Ecoute handles menus and lists, which i find as heavy and time-consuming as Front Row's.
I'd rather use VOX, another standalone application, but one which is Free. Vox does not recognize Itunes playlists but in addition to its equalizer, it has sound effect options : time, pitch and chorus, reverb and distorsion, echo and compression, flanger and phaser… and a Last FM interface. Supports Drag and drop almost any kind of music file(s) or folders.
PS I'm not related to the Vox people, just not convinced by Ecoute's functionalities considering its price.
(Version 1.2.6)