WMP and BSPlayer uses different codecs for decompresing files. WMP can use it'e built-in filters for that.
No, ffdshow is not a requirement. If you have latest DivX and latest XviD all should work ok. So try to update them using my link.
Edited: After re-reading your post, on your computer, wich is very slow I recommend to uninstall DivX and XviD and to install ffdshow.
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