Wanted - a Video Player sidebar gadget

I was just considering watching a videocast that I'd downloaded but I've got other things to do and don't want to devote myself to just watching the video.

On my computer I've got the sidebar set to always on top (I've got a 20" wide screen monitor, so no great loss of space).  What I'd love to be able to do is put the video into the sidebar where it can just play away and I can tune in and out of it as I work.

Ideally something where I can load a video from a location on my computer and then play/pause the video as required.  When the video isn't playing it can show a logo or something.  It would be great if you could set the logo yourself.  Other nice to have's would be if you can queue up some videos (perhaps via a Windows Media play list).

Would anyone else use something like this?  Has anyone got one?  Has anyone got time to build one? :-)