If you want blu-ray, I'd hold off until Nov. - Dec. and check reviews on the BD 1.1 players released. None of the current/past blu-ray hardware is without issues. From what I've read and experienced(BD-P1200) here's a few issues:
No current player can support DTS-HD MA. It doesn't matter if the Receiver can, if the BDA gets its act together, Advanced content will be enabled on the discs and audio will HAVE to be decoded in the player. As long as your receiver can accept PCM over HDMI you're all set. Don't worry about what version of HDMI anything has.
PS3 - fan noise, lack of ir remote and some claim quality control issues. Also, uncertainty if it will support upcoming BD profiles.
Sony S300 - lack of support for advanced codecs except DD+. Slow Java performance.
Samsung BD-P1200 - buggy firmware (lots of lockups especially when rewinding), currently (and maybe forever according to tech support) can't handle more than 5.1 audio streams. If you have a 6.1 or 7.1 speaker setup, you'll have to mux the rear channels together. Slow menus. Has problems recognizing clean brand new discs. Have to keep opening and closing drawer until it recognises the disc. Sound stuttering on SD-DVDs.
Pioneer - overly expensive, slow with Java. Not sure if any other issues as so few own them.
Panasonic - slow response. Manual cover to access blu-ray drive.
I'm sure that there are other issues I missed but the basic point is, if you can wait a few months for the BD profile 1.1 players to be reviewed, that's probably the best thing to do. Also, HD-DVD has it's faults as well, but as we're discussing blu-ray player suggestions, I didn't bring them up.
"We've done the impossible, and that makes us mighty!" - Captain Malcolm Reynolds