This really isn't an "or" question. JPLAY, Fidelizer, AudiophileOptimizer, and even Process Lasso all have different approaches to tweaking hardware and software usage. I see some use all 4 in their setups.
JPLAY has always been a tweaked audio engine/player that really doesn't tweak Windows other than their dual PC/hibernation feature. AO only tweaks Windows. Fidelizer only tweaks Windows, but in some different ways than AO, and the two are compatible. Process Lasso seems to work by controlling process priority and CPU core usage control. I use JPLAY, AO, and I'd like to try Process Lasso.
JPLAY is now an audio player on its own with the latest version using Open Home to become a streamer that uses MinimServer as a library manager, and your choice of control point software. There is no need for Jriver or Foobar to use JPLAY. The group at JRiver is absolutely bottom of the barrel. The owner's childish behavior against JPLAY has been ridiculous. I own Jriver, but I will never use it again. I refuse to support them in any way.