For me, this is a smaller, yet more effective alternative to K-Lite Codec Pack, simply because of the fact it does a better job at thumbnailing media files than the Icaros Thumbnailer that is now bundled with K-Lite, which is still relatively buggy.
The software is clean, no adware, no virus, a quick install, and is pretty simple to use. Very happy I found this.
I hope it continues to stay updated! Thanks Free-Codecs!