I have $250 and looking for a good player to get but I see mix reviews on a lot of players. I want to watch DVD and Blu-Ray and I don't really care about extra like BD Live. I skip trailers etc and go right to the movie. I want 5.1 audio hook up because I use my stereo to listen to my TV/DVD.

Players I looked at is the Philps BDP7200 or a Samsung BD1500 or BD-P2500

Question is whether or not your stereo is able to decode the new Hi-Def sound formats and also whether it has HDMI and/or other digital inputs. If not, you'll need a player able to send decoded signals through analogue outputs.

LG makes one (BD370) that's BD-Live and Netflix ready and is on sale at Best Buy currently for $249.

The Panasonic DMP-BD 35 is no longer available. But you can get the Panasonic DMP-BD 60 for $245 at amazon.com..
I checked this player out at our store thoroughly. It's a great player and one that really does good upscaling for regular DVD's.
A little more expenisve is the Samsung BD-P 1600.. but that one comes with Wireless Lan options.. If you don't wanna connect a cable that's also a great machine..
Both are Profile 2.0 and play almost anything..
I wouldn't go with the LG.. I checked that one out too.. It's manufactured a little poorly..
(I work at an electronics store, so I get to check out every player..)

First of all thanks for all your help. I will be picking up a player some time next month when I get the money. I like the Pansonic player  and I got a 4 port router so running a lan cable 10-20 feet is not a big deal.

This will finish my HD setup.

Does your stereo have 5.1 analog inputs or will you be using optical or possibly digital coax connectors?

I am wondering if you can list the audio/video receiver you are using to get 5.1 audio in you HD set-up?  The Panasonic you purchased will decode and bitstream Dolby TrueHD and DTS-HD Master Audio, but does your receiver offer HDMI streaming?  If it does not then you would need a receiver that can decode these format.

I am using an older Denon AVR-3805 and it lacks HDMI and does not decode the HD Audio formats, thus any Blu-Ray player I intend to purchase must have 5.1 or 7.1 analog outputs or else I cannot experience Hi-Def audio!!!

I need to edit this because I didn't explain that correctly...the panasonic can bitstream the HD-Audio and thus that means your receiver will decode the HD-Audio signal...OR...the Panasonic can decode the HD-Audio and your receiver (w/HDMI inputs) will output the signal via PCM!!!  So if your receiver doesn't have HDMI inputs, then you can only get HD-Audio if your Blu-Ray player can also output the decoded HD-Audio via 5.1/7.1 analog outputs!!!

Ah so if he isn't concerned about the HD-Audio signals then it really doesn't matter then!!!  With every Blu-Ray player connected via Optical TOS-Link cable, it should downgrade to DD5.1 or regular DTS, but even if it didn't the receiver should output it as such!!!