I agree that there is no all-in-one player that will be perfect for PQ, AQ, Upconversion, and BD-Live/Profile 2.0, but depending on what your priorities are there are players out there.
The Panny BD30 is probably the best bang for the buck for those requiring lossless audio.
The PS3 offers the best chance for a BD-Live upgrade.
So far I haven't heard that too many comments about the upconversion being all that poor and having watched plenty of dvd's on my ps3, I'm not sure that the detail from upconversion is all that dramatic from what I've seen on my friends XA2. If upconversion is a huge deal, I would recommend getting a Lumagen HDQ video processor which will help all your players instead of just the XA2 and help future proof all your DVD upconversions.
Here's another list that may be helpful to compare features in one chart: http://www.idoblu.co.uk/page2%20Blu-ray%20Players.html
I also looked up for a review of the Panny BD30 on the Secrets of Home Theater site, but I couldn't find a review, would you be able to provide a link about the review?