Dan:

It depends on how you want to use the keyboard and what you will be using as your sound source -- whether you will be using the Privia keyboard to generate sounds with BIAB or any other DAW or if you will be using a soft synth to generate the sounds.

You could use the px-130 as a controller to record midi, but the Px-130 only has 16 sounds, mostly piano and organ, strings variations and two Bass sounds. You could use the px-130 to generate any of those sounds but the Px-130 can't play back other sounds like guitar, horns, or any of the other 128 General Midi sounds.
You can see a list of the General Midi sounds here
http://www.midi.org/techspecs/gm1sound.php

If you will be using the keyboard as your only midi sound source, then it wouldn't work too well with BIAB because BIAB uses the General Midi sound set.

The Px-330 has 250 sounds, the General Midi sound set plus variations, so it's close to, and possibly exactly, the GM2 sound set - I haven't compared the sound sets completely.

If you are going to use a soft synth for all of your midi-generated sounds then you'd be fine in BIAB.

When using a DAW, you could use a soft synth to generate some midi sounds and the PX 130 to generate some sounds.

If hope this makes sense. I'm writing this at my in-laws in between trips to the kitchen to help making Thanksgiving dinner.

Write if you have any questions.

John