  In this paper we study magnetization excitations induced in a thin extended
film by a spin-polarized dc-current injected through a point contact in the
current-perpendicular-to-plane (CPP) geometry. Using full-scale micromagnetic
simulations, we demonstrate that in addition to the oscillations of the
propagating wave type, there exist also two localized oscillation modes. The
first localized mode has a relatively homogeneous magnetization structure of
its kernel and corresponds to the so called 'bullet' predicted analytically by
Slavin and Tiberkevich (Phys. Rev. Lett., 95 (2005) 237201). Magnetization
pattern of the second localized mode kernel is highly inhomogeneous, leading to
a much smaller power of magnetoresistance oscillations caused by this mode. We
have also studied the influence of a non-linear damping for this system and
have found the following main qualitative effects: (i) the appearance of
frequency jumps within the existence region of the propagating wave mode and
(ii) the narrowing of the current region where the 'bullet' mode exists, until
this mode completely disappears for a sufficiently strong non-linear damping.
