The first post does a good job of explaining the differant profiles. When buying a player you need to ask yourself what do you do when you watch a DVD? Do you just watch the movie and maybe a few extras like the deleted scenes or outtakes? if that is the case then all you need is a profile 1.0 player. If you like watching the commentray then profile 1.1 would be more for you because a lot of the 1.1 features allow for picture in picture commentary and other features that can be used while watching the movie. Profile 2.0 allows you to download more trailers and buy merchandise online related to the film, and some other stuff.
For most people a profile 1.0 is suffecient to fill everyone viewing needs. Only issue with 1.0 and 1.1 is that you will often need to download firmware updates on your computer to burn a CD to update your player, where the 2.0 will download them and install when needed.
If 2.0 does not matter to you than you can buy just about any player and watch any Blu-Ray movie on a 1.0 or 1.1 profile, except stay away from the Samsung players, there is an issue with some of them not beeing able to play some movies. About the cheapest 1.0 player I have found is the Sharp Aquos BDHP20U its price just came down from $499 to $399 and Amazon has it for $349. But for just $50 more you can get the PS3 for $399 and that is profile 2.0 and is usually regarded as one of the best players available right now.

buy a ps3 it is the best blueray player on the market and really cheep for what it does! if you take all the parts and buy them yourself to build it the hardware itself totals 800$!!! and the ps3 is completely updateable by the internet! and if you get a ps3 you dont have to worry about it not being able to play something. it can do anything! it’s amazing!!!!!

ps. it only cost 400$ if you buy the version that cant play ps2 games.

There are 3 specs for Blu-ray players called Profile 1.0, 1.1 and 2.0.

ALL play the movie.

Only Profile 2.0 requires Internet connectivity. Only Profile 1.1 players must support picture in Picture, secondary audio and on-board storage. All these are for extra features like (e.g. “In movie experience”, web extras, on-line chat)

Most Blu-ray player (other than the PS3) are not, and never will be, 2.0 compliant. Many of the older models are 1.0 compliant, and can’t ever be 1.1. Some can be updated via firmware / some can’t.

You don’t NEED a player to be more than 1.0 compliant, but older players are more likely to have problems with newer movies (one — a Samsung player can’t even play some movies), and won’t be able to play some or all of the advanced special features you are paying for on a Blu-ray movie.

If you don’t care and just want to play the movie .. you can save some money buying an “incomplete” player.

Personally, if I were buying I’d either buy a PS3, or wait for a Profile 2.0 player.

But I’m not convinced Blu-ray is worth it …and I’m sticking with DVD until (and I don’t think it’s going to happen) prices are the same.