I use Blu-Ray through my PC, as I have a 1080p Monitor, whereas I have a 720p TV. I've watched a fair few movies, and a couple of times it freezes during a movie, but other than that, it's fine.
The thing is though, with a PS3 you get all patches automatically updated. Didn't original Blu-Ray players become useless after it couldn't play movies from a certain date?
Old bluray players still play all films. They just don't get all the fancy java menus (which IMO is not a bad thing)
I Have also seen a Sony BDP-S470, could be out of the S370 or S470. A ps3 would be a good plan, but for almost £100-£150 less id get a decent blui-ray player, funds might be too tight to stretch to a ps3 at moment. a ps3 might be a good plan later. I know im not bothered bout gaming on it, i have my pc and 360 for that. Id run it all through my pc but i want a stand alone player of some sort.