I don't know about all Bluray players.. but one bonus to PS3 is it's built in WiFi... So as formats change/adjust, your PS3 will always work because they can release a patch/update to configure for different changes. Another nice WiFi bonus is if there is ever any online content on Bluray, the PS3 may be able to access it.
One drawback that you may not like, (myself included) is that the remote is a bluetooth remote, so multifunction remotes that have IR tech, will not work unless you have an IR receiver for the PS3.
It will upscale DVD's, connects via HDMI, has optical audio out, etc.. so even if you never take advantage of PS3 games, the HDD, downloadable movies (including HD), demos, etc... it will still make a great bluray player.
But you are paying for a lot of features you may never use.... try to find a good deal on a stand alone unit... I've seen them for about $200
2009 Pontiac G8 GT - V8 POWER BABY!
2003 Pitch Black SVT Focus
#61 of 3985 built
(1 of only 63 blue/black 3 door)