Looking for a codec that decodes every thing, well I know thats almost imposible ... well how about 99.9% of the movies out out there on the Interner. If not a single codec like FFDShow then a good combo of codecs that will do the same job.
I can't think of anything that can decode and encode more formats than FFDShow.
For just decoding though, you don't need a codec, just a decoder and for 99.9% coverage you also need splitter filters for formats like mkv, ogm, rmvb, mp4, etc.
Probably the most complete package/player would be mplayer with all the extra codecs in its codecs directory. It can play everything that VLC, excluding DVD menus, plus a whole lot more
libavcodec now supports vc-1/wmv9 so it is only a matter of time before FFDShow does. WMA pro/lossless I guess would still be an issue, however if they are also part of MS's VC-1 standard then libavcodec may someday support them to.