The best replacement for milkdrop is avs.

The best alternatives to milkdrop are rated as following:
★★★★★  avs
★★★★★  g-force
★★  projectm

Your alternative for milkdrop is not listed? Suggest!
Speaking about milkdrop, one probably shouldn't forget about winamp.

Other search terms related to milkdrop and their ratings are:

★★★★★ winamp
You have in mind a companion for milkdrop and it is not yet here? Propose!

Google Trends

Scale is based on the average worldwide traffic of milkdrop in all years. Click on graph for more.