Nonetheless, seeing that you're updating it, a special area to check for would be the removal of items from creatures' inventories without actually checking what item is being removed (this affected the Duchal palace invite found in one of the assassins you kill in Baldur's Gate) This is the sole reason I wouldn't recommend installing the BP-Balancer's item balancing components any more (not the Duchal thing, but the removal of items without checking in general).
As I mentioned in this thread I consider doing more checks at compile time. You can still use the balancer until a new version is released (which will take time, as a lot of overhauls are to do), when you just install the mod balancing components right after the supported mods. NOT after unsupported mods, while the supported mods (SoBH, DSotSC, NTotSC) should be the first quest mods you install. This attempt was tested successfully and no vanilla or supported mod questitems were removed. Not even the blue dragon staff.
Still, there is always a possibility of having bugs (as always when it comes to modding, well even when it comes to vanilla games :-p), but it will dramatically minimize the chance for bug occurrence.
Having to take care of that might be not neccessary with the upcoming release.
Regards