It is the best:

  • Has DirectX 3D video acceleration.
  • Has very good file support
  • Is stable
  • Frequently updated
Media Player Classic Home Cinema isn't updated as frequently but has x64 support. For now, VLC is great. If it becomes available in a native x64 it would be perfect. As for associations, did you miss the extremely detailed options page during installation? Also, I'm fairly sure BS Player is spyware junk.