Sure, that's fine. Run the launcher & select "MediaVPs 2014" as the current mod and you can play the original Freespace2 campaign with updated graphics. When you've done that, have a look at the rest of the mods the installer downloaded and pick one that takes your fancy. You could also check this guide for suggestions on what to play next.
[/font]I ran the launcher & selected to install all of the mods (shown in my download directory as "logs". Before I open the game, How/where do I choose which mod to be applied to the game, and can this be repeated for each game opening?
In wxLauncher, you can choose the mod. Keep in mind some some mods are simply upgrades of the retail campaign (MediaVPs). Then, once the mod is chosen, in the FS2 main screen, you can go to the Campaign Room to select any campaigns included with that mod (for example, a mod based on FreeSpace 1 would, when chosen in wxLauncher, automatically load in FSPort to get the necessary FS1 files into the engine, and then add its own files, then you would choose that mod's Campaign to play it).
Eh, here, these are the retail campaigns:
FSPort: Freespace 1 converted to the FS2Open engine. Choose FSPort MediaVPs for the version with prettier graphics (recommended)
Silent Threat: FS1 expansion (chosen in the campaign room). Recommended you use Silent Threat: Reborn instead as ST was considered pretty much rushed out the door and not up to

standards.
MediaVPs: FS2 upgraded with prettier graphics. Recommended you choose this when you play FS2
PS: Some will tell you to skip FS1 as they don't like the storytelling style. Up to you; I like to know the backstory, so take that as you will.