DVD player has died

So my old DVD player (a cheap $30 Wal-Mart model) that I have had since 2000 has officially died. Well, to be honest, I could still watch movies if I put up with it skipping and making clicking noises every few seconds on several perfect condition DVD’s.

My first instinct is to go buy an cheap up-converting DVD player to go with my HDTV. However, what are the odds of 1) one of those doing a good job upconverting movies and 2) being good enough quality to last awhile?

So I think if I am going to spend money on this, I need to buy a good up-converting DVD player or stretch enough to spend for a Blu-Ray player (in which case, a PlayStation 3 might be the route to go). Since all signs point to Blu-ray winning, that would be a good strategy.

A cheap upconverting DVD player can be found at the local Wal-Mart for ~$40. Of course, the odds of it doing a good job upconverting is slim and the build quality is probably suspect.

A good upconverting DVD player can go from $100-$200. The downside is it won’t be anytime soon that I go with Blu-Ray if I buy this.

If I go the Playstation 3 route for a Blu-Ray player, that is $399. The bonus on that of course is frequent firmware upgrades and the ability to play games. The downside is the cost.

I don’t know what to do!