Buddypress and Protected Content - Registration Integration


I am not clear on how the registration processes of Buddypress and Protected Content integrate. Here is my situation:

- I would like the user to register once if possible, resulting in a user having access to protected BP content
- I need to have extended profile fields when they register
- I would like all new users to pick from a free or premium PC membership at registration

I did activate the Buddypress add-on in PC. Please let me know what else is needed to get this set up.