Would highly recommend one of the new Panasonic players (DMP-BD35 or DMP-BD55). They both are reasonbly priced (especially the 35) and have better video performance then most players on the market according to the reviews. I also did my own research and picked up a Home Theater magazine and they rated the video performance on these very high and pointed out that these new Panny BD Players pass video tests that current players (like the PS3) on the market don't pass.
I picked up a Panny on Black Friday and I am really impressed. Load times are not bad, video quality is excellent, BD Live support and fully upgradeable firmware (which means you just plug your player into an ethernet jack to get upgrades to your BD Player). The only thing that irked me a bit is it didn't come with an HDMI cable or memory card. The memory card is needed for BD-Live access and it would have been nice to have an HDMI cable with the player. I had one of each lying around so it wasn't that bad for me.
Both the Panny players come with internal decoding so your receiver doesn't have to have the newest audio codecs (used for Blu Ray). If you don't have an audio receiver with HDMI capabilities, you can purchase the higher priced BD55 above it comes with analog 7.1 audio out which you could use on your older receiver. If you have an HDMI capable receiver (that doesn't have the latest CODECS) there is no reason to purchase the more expensive DMP-BD55. Just pick up the BD35 because there is no difference in video quality between this one and it's higher priced brother. In fact, I would argue that the BD35 is so well priced that you might want to purchase it anyway and just use 5.1 sound on your older receiver until you upgrade to a newer receiver. The price per value is that good IMO.
I am very happy with my purchase. I was actually going to take the plunge and buy a PS3 but now I am glad I read some reviews on the new players. I was able to pick up a higher quality BD player for cheaper then the PS3. Not to mention that I wouldn't have probably used the PS3 much for games anyway. Glad I waited.