If you want to see the encapsulated picture (read album cover) of your mp3's
id3v2 tag file, there's an easy way to do it in your beloved Winamp. Much like iTunes does it, but better.
There's a nice plugin for Winamp that you can get from
Joerg's site, it can show the embedded image file on the mp3 itself, autodetect image files from the mp3's folder and display them (probably album covers) or display any other jpg from an alternative folder just in case it doesn't find any (your photos folder for example). One of the best things about this plugin is that is works in the video window. It doesn't open its own window, so it's perfectly skinned and doesn't take extra space. When you view a video, it automatically takes over the window, you switch to listen audio, the cover plugin takes over the window again. Perfect.
On the classic skin it look something like this:

A good thing about this is nowadays, mainly since iTunes included podcasting on its categories, most podcast files have encapsulated pictures, whether it's the show's logo or maybe any particular show-related image. Plus you can locate the video window on the position and in the size or aspect ratio you like! Enjoy and tell the plugin's author you liked what he did!
For a nice way of podcast listening integrating Winamp and iPodder (now Juice) check
this other post.