Just installed the 530 yesterday. I couldn't hook it up through the HDMI cable to my older Onkyo 705, like I did with the PS3 it replaced. Possibly a handshake issue with the Onkyo. Hooked up straight to the TV and had to run a digital coax to the receiver. Everything seems to work great. Major plus in ease of use of the PS3, which had a very low WAF. I can use the 530 remote to turn the TV (LG60PK550) on and off, and I just change the input from HDMI 1 to 3, which is the side input on the TV (I need to get another ninety degree HDMI cable from monoprice as the TV is close to flush mounted on the wall).
Through the receiver (for cable) I have the HDMI audio out set to mute, so that the 5.1 surround speakers only are used. I have to hit the mute on the remote each time I watch a disk. The upconversion seems OK, comparable to my Oppo 971 and Pioneer BDP 320, which are both just below my Toshiba HD XA2. I changed the output from 1080P/24 to 1080P/60 for DVD and I think it helps, but I am not sure it really does anything different.
I have used a USB flash drive through the front port to play a picture slideshow, which worked well. Still need to check out audio performance, and maybe an external hard drive with other video files (which to date I really don't have anything to watch as I don't download internet TV stuff). Also will try my camcorder to check out AVCHD performance. No plans at present to run any cat5 cable to it.
So far I am very impressed that for $65 it has replaced the PS3 with at least as good video quality and is much easier to use. Going to pick up another and replace the Oppo in the den. Thanks to Winston9332 and others that reviewed it, hopefully it will last until the Oppo 93 becomes mainstream and affordable (at around $200) sometime in the far future ;-)