Recently I came across an interesting piece of add-in developed by  DivX called DivX Tech Preview that adds support of  Matroska(.MKV format) to both Windows Media Player and Windows Media  Center in Windows 7.
No doubt  Microsoft has refined Windows Media Player in Windows 7. It can now play  almost any format seamlessly, but unfortunately it doesn’t play videos  in MKV format. So what is MKV format? In layman’s term, it is a  high-definition format that can hold unlimited number of videos, audio,  pictures, and subtitles track inside a single file.
Most HD videos  available online are in MKV format and you cannot play them using  default Windows Media Player in Windows 7. This add-in adds support for  Matroska file playback and apart from it, also enables video thumbnails  and displays detailed information of files of this format in Windows  Explorer.
Another benefit of using this add-in according to DivX is that you will be able to use hardware acceleration for H.264 video decoding via the system H.264 decoder(only where supported).
Download DivX Tech Preview
This add-in is for Windows 7 only. Enjoy!
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