I own the 1400 as well as PS3. To date, 1400 has been great for me. It can bitstream all high def codecs and it can internally decode all formats except Master Audio. It also has 5.1 analog outs if you need that.

I've had one problem with a scratched disc that it could not play. PS3 studdered at the same spot, but I was able to fast forward through it.

Picture quality wise, I would say they are on par or perhaps slight advantage going to the 1400. The one *ANNOYING* feature of 1400 is that after five minutes of being on pause, it will stop the player. Not a big deal except on java based discs. It will restart from the beginning! That truly is annoying. Other than that, I'm very happy with my 1400. I use the PS3 almost exclusively for games and 1400 for Blu-ray (except when I want to compare sound/video etc)

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Denon 4520, EPIC80/500/VP180 Speakers