If Winamp cannot play WAV WV files, get WavPack Plugin
Winamp may not be able to play a WAV / WV file, if it is encoded in 24 bits 96K or more, and your soundcard or DAC cannot produce this quality.
This can happen also with FLAC files, or any lossless format.
If your WAV file is encoded e.g. in 16 bits 48 or 44K, perhaps you don’t have the necessary plugin for Winamp.
You don’t need to configure anything, just install and enjoy your Wave files!