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nothing EXCEPT FOR the latest version of winamp.
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May the version you are using is the problem? Try reverting back to the previous version before this problem started...
I would also let WinAMP run and see if there are any other processes that may be taking away the CPU time by using the Task Manager.
If all looks normal, you may want to try look in Device Manager and see if any devices are sharing the same IRQ. Although IRQ sharing isn't a problem on most devices nowdays, I've noticed that some devices just don't get along well. If the the soundcard is sharing an IRQ with other device(s), try moving the soundcard to another PCI slot.
And one last suggestion would be to see if you have a settigg in the BIOS called "PCI Latency". Most mainboards have this setting defaulted at 32. Try setting it to 64 or 128 and see if that solves the problem...