I suggest you use the Microsoft active movie control instead of Windows Media Player Control.(you can download the *.ocx file at
http://www.zerohack.it/downloads/ocx.htm. Then open Visual Basic go under Project and click Components. Click browse and select the *.ocx file you have extracted from *.zip file.
However if you still want to use the WMP control you should check the following things, because i don't think there is something wrong with the code:
* the version of you Windows Media Player
*check if the right video codec is installed
*check if the right and the newest sound driver is installed
HOPE THIS HELPS.....................