I have the same problem on my second computer, win 98, on my first computer it works (also win98).
After installing the debug version it worked, but different important options were not available in this version.
The bsplayer.log:
Load filter
Init dll...
14:58:55, 07.12.02 - BSplayer starting
Windows version 4.10 Build 1998,
BSPlayer version 0.85 Build 492
Screen resolution: 800x600, 32
Saving Registry key
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REGEDIT4
[HKEY_CURRENT_USER\SOFTWARE\BST\BSPlayer]
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Loading skin...OK
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