There have been a lot of problems with Blu-Ray. The first players lacked a network connection, and didn't have any local storage, but the latest player solves both of those problems, adding a full 1GB of storage and a wired Ethernet port.
The BDP-S550 also packs the latest BonusView technology, letting it show picture-in-picture features on the latest
Blu-Ray format discs.
There is also an onboard decoding for HTS-HD High Resolution and Master Audio streams too, making it pump out 7.1 surround sound in better quality than any Sony box before it.
What's really got us excited, however, is the price. The BDP-S550 will go on sale for £255 in the UK, and barring a huge price hike on this side of the pond, should end up being cheaper than a PS3.
That means those who want the goodness of Blu-Ray and a future bit of kit can finally avoid using the PS3 to watch your Blu-Ray movies.