So what CPU and graphics card do you have?
For an "older" CPU you could e.g. also try version 0.86 build 501 (16 Sep 2003) of BSPlayer.
(
http://forum.bsplayer.org/viewtopic.php?p=14120#14120 )
Another idea: BSPlayer requires version 7.0 or later of DirectX.
You happen know which
DirectX-version is installed on your PC?
(Maybe check through [Start] > [Run] and then type
dxdiag.exe followed by [Enter].
(If it is too old just click on "DirectX" hereabove and download v.9.0b)