I am using crossfading feature (8.6 seconds overlap) in WMP12 and it's fine except that it sometimes randomly causes stop errors. By that I mean upon crossfading onto the next track, it sometimes causes an error that stops the next track from playing (also stops WMP from playing at all - I gotta start the track again or play something else to reactive WMP to play). Sorry I don't have the error message here, I'll post it the next time. But the error basically, if I remember correctly, says something like WMP couldn't open the file - but if I click to play that same file then it plays normally.
I noticed that this happens randomly and tend to happen more with short tracks and when WMP has been playing for quite a long time.
I couldn't find any references on this particular error/bug on the web but people seem to have had some problems with WMP crossfading in general.
Many thanks for help!