If it works then there is no reason to change anything.
Lots of peoples have different codecs strategies, but most of them (us) agree that codec packs, or any unnecessary codecs are usually not good. But, as I said, if you have codecs pack installed, and videos play fine, then just don't touch anything, maybe you will not get any errors for few days
I use:
latest DivX Pro (if you don't encode with it normal DivX is enough) -
http://www.divx.com/divx/download/ or
http://suprnova.org/
latest Koepi's XviD -
http://www.koepi.org/xvid.shtml
3ivx (errr... I watched videos encoded with that about 2 times :P) -
http://www.3ivx.com/download/index.html
AC3 DS filter -
http://www.afterdawn.com/software/vi.../ac3filter.cfm
coreAAC -
http://pessoal.onda.com.br/rjamorim/COREaacDS.zip
ffdshow (only installed, not using for anything) -
http://sourceforge.net/project/showf...ckage_id=59355
Matroska Splitter -
http://sourceforge.net/project/showf...ckage_id=84361
OGG DS filter -
http://tobias.everwicked.com/oggds.htm
VSFilter -
http://sourceforge.net/project/showf...ckage_id=84359
Quicktime -
http://www.apple.com/quicktime/ or
http://suprnova.org/
Realplayer -
http://www.real.com/ or
http://suprnova.org/
and of course:
BSPlayer 8)
also I use two programs for getting movies infos and managing codecs:
GSpot (beta version) -
http://www.headbands.com/gspot/gspot252dl.html
Codec Sniper -
http://www.utilidades-utiles.com/Dow...ec-Sniper.html
If you don't watch movies that use 3ivx, no need to install it.
I don't use ffdshow, because in past it caused me some problems with playback. I keep it installed because, if something goes wrong, I can always try to temporarly switch to it.
I tried QT and Real alternatives, but they just suck (quality and abilities to play video over Internet were not satisfactory). And if you properly configure original programs, then it shouldn't cause troubles.
Codec Sniper just can kill any of your codecs installed. GSpot states that can do the same, but I haven't tested it yet.
GSpot (beta, not the old one!) is the greatest tool to analyze problems with movies and show movies infos. Unfortunatelly it don't yet work for ogms and mkvs.