uses
  MMSystem;

procedure TForm1.Timer1Timer(Sender: TObject);
var
  Trk : Word;
  Min : Word;
  Sec : Word;
begin
  with MediaPlayer1 do
  begin
    Trk := MCI_TMSF_TRACK(Position);
    Min := MCI_TMSF_MINUTE(Position);
    Sec := MCI_TMSF_SECOND(Position);
    Label1.Caption := Format('%.2d',[Trk]);
    Label2.Caption := Format('%.2d:%.2d',[Min,Sec]);
  end;
end;