No, BSPlayer works just fine with codecs. In fact the quality of its performance as a rule is better with the original codecs than with ffdshow.
One should however never overdo on codecs, that's the reason why I always advise against codec-packs, as most people are tempted to install too much of the "goodies" that these packs contain. By doing so only increasing the possibility of conflicts and making it harder to find out what exactly may be causing troubles. (And then often unjustifiedly BSPlayer gets the blame for faults which users have in fact caused themselves.)
From your information I do not get the impression that you used a codec pack, so that's good!
For a less high capacity system (CPU/graphics card), ffdshow may be a better choice. For lower capacity systems I often recommend it in combination with version 0.86 of BSPlayer (e.g. like I did
here).
