^ What ampshout said
CD Burning/Ripping - there's better programs (e.g. EAC) that handle ripping more accurately, and burning makes more sense in a program that can burn more than just audio cds imo.
Gracenote - Tried it a few times, think it accurately ID'd one song once, might be because most of my stuff is underground/older electronic music.
Shoutcast - Used it back in the day for Bluemars & Digitally Imported. Bluemars is gone, and di.fm requires a monthly fee to use winamp now, so don't need it.
Web Browser - god I hated this when it was implemented, most annoying thing ever put into winamp.
Not to mention it just opens security holes because it uses trident.
Podcasts - never got into it
Online Services - Again, fun to play with it when it first came out, but now there's nothing really relevant on there, especially with all these other services you can access via the browser.
The only other thing I would love is make videos an add-on package instead of being a part of the default package.