You can utilize the built in method of downloading codec automatically; but here you would be relying on Microsoft's ability to provide the appropriate codec's. Another method would be to install a combined codec pack, which typically fixes most viewing issues.
I use the Combined Community Codec Pack. It works fine on both of my laptops and on a few desktops I've used. I have not tried it on newer "Blu-Ray" or "HD" DVD's, but it works very well on other movie DVD's.
Cheers!