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I'm a lousy “mockuper” (does a work like this one exists?)... but the idea is clear I think.
A REALLY Simple, minimum GUI music Player for Plasma.
When not in use, it is no more than an icon in your panel or in the plasma desktop. If you right click on it you'll see something similar to “quick access”... and indeed it works almost the same way: it shows all the files (your playlists) on one selected folder, and lets you browse the sub-folders:



Clicking on any of the playlists listed will start the music. There you can also add/edit playlists, both by manually adding items or by drag and drop from Dolphin:



By hovering over the icon, you'll get the track and album details:



Because this is a REALLY SIMPLE player, covers must be simple to set up: just copy the cover image to the folder where your music is stored and the player will pick it.
With a left click you'll get something similar to the “hover effect” but with player controls. In fact, clicking on the progress bar you will be able to “browse” the track:



That's all. No mixing, no cross fading, no visualizations: if you need a full featured player, go for amarok

NOTE: I know about “Mini player” plasmoid. This is (will be... maybe... ppppplease!!! ) a different implementation.

This seems very similar to the plasma media center components GSOC project. Take a look at this: http://www.youtube.com/watch?v=hhKlEhfS-rQ

Not the same... but nice!

Not identical, but your idea might fit in as part of the larger media center framework.