Claris's improvisation on Chopin's Prelude
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Pro Comes bundled with Winamp
MilkDrop 2 comes as part of Winamp since version 5.5. It's also still available as a separate package if you wish to use it with other software.
Pro Runs smooth on most modern computers
Plenty of user options to tweak for your system.
Pro A huge preset pack is available
A preset pack with 760 visuals made by Tryptonaut is available. You can find it here
Con No user-friendly way of customizing the visualizations
Short of learning to code there are no ways to change how the presets behave.