I was looking around for a WMV player for my T755p and did some testing and found the Kinoma Player your best bet.....BUT I also found if your WMV is HQ it will studder and if it's a LQ WMV it will play sorta ok....... I find it better to play Mpeg 4 and AVI's on a Treo......

I posted some info about it on Treobits awhile back LOL