As I am also interested to know whether realmedia works on BSplayer or not, I'll tell you something that may help.
Click here and download the RealMedia Splitter (RealMediaSplitter.ax). Then try to register it by doing exactly what the thread,which you read, says. :D
(Type: regsvr32 "RealMediaSplitter.ax")
Please let me know if BSplayer works afterwards.
P.S: I think that BST actually "locked" the playback of realmedia files or maybe real alternative is just too hard to be used.. :P