There are several options to manipulate the sound.
These enhancements are provided by the WMP interface.
More options can be found in Vista Tweaks.
Auto volume leveling plays all the songs with the same loudness.
It won't change the music but it will add a tag with a correction factor.
Crossfading for a gap less playback. It won't compensate for 'silence' if this is part of the track.
Moving the slider to the right will compensate for that at the expense of mixing the outro and the intro.
The equalizer is nice when you play old recordings, you can attenuate the hiss.
You might use it for room correction to but Vista offers a more refined option for room correction.
Does what it says,
Reduces the dynamics
Try this with classical music. Keep a set of dry pants at hand.