First let me say that I really dig this Blu Ray player. I really like the bright blue lights(BBL). However, as the BBL's are not able to be dimmed, there may be a few(if not many) who do not like the BBL's. This is the only possible issue, that I have with this device.
Features: While not a new Blu Ray Player, this is a gem of a device. It does not offer 3D, Wi-Fi, nor does it offer any additional Apps for streaming. This is a straight forward Blu Ray player. It's Audio decoding features are: Dolby Digital, Dolby TrueHD, and DTS-HD Decoding. It is BD live ready(through an Ethernet connection). Also, it can be hacked to play any region DVD. I have yet to find a disc that it cannot play, i.e. Any region DVD, burned DVD, BD-R, or even BD-RE.
Setup: Easy enough to set up. The connections are HDMI, Component and Composite Video, Digital Audio(both CoAx and Optical), 2 Channel Audio, and a LAN port. I have connected all of the options, with the exception of the LAN line(BD LIve does not interest me). My primary connections are: HDMI to TV, Digital Coax Audio to my AVR. I also connected the Component and Composite Video and 2 Channel Audio for my AVR's Zone 2. I have no complaints about any of the connections, they are pretty standard, and easy to use.
User Interface: The menu is very easy to navigate. The home screen is simply four options (Movie, Photo, Music, and Setup). The setup screen is easy to move around, and the settings are explained well. The remove is laid out well. The only complaint with the remote, would be the position of the input, Channel (up and Down) and volume (Up and Down). When turning the volume up on the remote, it is easy to hit down channel, which can be annoying. However, as I use a universal remote, I rarely use the original remote.
Performance: While the only BD player I own, I have been to friend's and families houses, and have seen multiple BD players in action. I find the XV-BP1 to be one of the fastest loading BD players that I have seen. I have never had a disc not load (NetFlix. RedBox, Borrowed, and Bought). The image is always stable and looks good. The audio is always top-notch , and even the 2 channel for my Zone 2, sounds great.
All in all, I find this a great BD Player and recommend it to anyone in the market for an older BD-Player, that doesn't want all of the new gimmicks that they include for new BD players.