Megacubo is a free standalone IPTV tuner application written in PHP + Winbinder, that doesn’t require any registration nor browser plugin. It already has a catalog of links to brasilian and a few international TV streams which are available for free in the web. You can also add your own favourite IPTV stations via ‚Options > Open URL‘ (Ctrl + U). At the moment it only runs on Windows (2000, XP, Vista and Seven).
Another great multimedia player and framework with IPTV functionality, support for various streaming protocols like UDP and cross platform compatibility is VLC.
There are loads of IPTV streams available in the internet, just google for example for ‚IPTV channels list‘.