The codecs indicated by BS.Player codecmanager are BS.Player's preferred codecs/filters. It is a very limited selection of codecs/filters. So I would say: install these (pre)selected codecs (and preferably don't ever separately install codec-
packs containing an abundance of codecs/filters).
What's more: the codecs you install using BS.Player's codecmanager, are installed "internally", i.e. only for use by BS.Player and not interfering with your system's codecs/filters.