Things you can't do with WMP11

CD Text

CD-Text is an extension of the Redbook Compact Disc specifications.

It was introduced in 1996.

It allows for storage of additional information (e.g. album name, song name, and artist) on an audio CD.

If you want to burn an audio CD with CDtext you have to find a burning program supporting CDtext.
An alternative is to burn a MP3 CD as a lot of today’s CD players support this format.

WMP doesn't support CD-text, it uses internet databases to find this type of information.

There is a plugin to enable WMP to read cd-text: WMPCDtext

Editing

WMP is what it is, a player.

You can't edit a song, making it shorter, fade out, etc.
To do so you need editing software like Audacity.

Printing

A lot of people like to print a list of their albums.
There are some tools on the MS website but they probably don't work with WMP11/Vista.
See http://www.zachd.com/pss/pss.html#printplaylists for more details.
MP3Tag is able to export a couple of tags.

You might try this script to export the library to Excel.

Recording

You can't record with WMP.
If something from the internet is playing in WMP you can try ‘save as’ but that’s all.
You can use Audacity to record.