There are probably better players, but those are much more expensive. With the PS3 you know the system won't get outdated because of the fw patches.

To top this off, the new blu-ray players have all the extra features that the PS3 has. Internal memory for BDLive, WiFi for instant updates, and 1.3 HDMI compatible. They also use IR controllers, so they can use their existing universal remote rather than having to either buy a Harmony remote with adapter, or the BlueTooth Sony Remote if they want to be able to power it up via remote. They are also quiter, as pointed out, since they don't have massive fans running trying to keep the thing cool. To me, even a clock ticking in the other room is too loud, but since I wanted a PS3 for games also, I figured it would save me a couple hundred dollars just to use that.

If he has no intention of playing games, a standalone is better and probably cheaper, but if he would play games, then the PS3 is the better choice.

The PS3 slim uses 95 watts of power, most bluray players will use a third of that. If you're environmentally conscious, this is something else to take into account.

crap, I forgot about that. It is one of the really big reasons on why I am considering building an entertianment PC that can do everything the PS3 can do and more with the exception of playing games and blu-ray movies.

I can build a single board computer that uses 17W total, while my PC takes ~110W and the PS3 takes even more (non-slim). It isn't worth keeping my PS3 and PC on just to stream music. >200W compared to 17W for the same task.

This article should tell you just about anything you need to know:

http://news.cnet.com/8301-17938_105-10316079-1.html

"With all of the functionality it offers, the PS3 Slim is the best value in home video today, and it more than holds its own as a Blu-ray player. If you can ignore its minor shortcomings and don't need the standard "disc player" form factor, it's easily the best-for-your-buck Blu-ray player for the majority of tech-savvy buyers."

CNET has rated one standalone as being a better Blu-ray player than the PS3 in their tests... but it sells for over $500.  The only downside to using PS3 for this function is that it loads discs slower than standalones.

EDIT:  Actually there's one more potential downside: if your friends want to control it with a universal IR remote like Harmony, they're probably out of luck unless they buy a fairly pricy converter thing.  PS3 is bluetooth.  I think some Sony Brevia remotes work with it, maybe.  Or maybe not.

1. You're an awesome friend, can I be your friend?
2. If you want to spend that kind of money on them, go for it!

The PS3 auto updates and since they're gamers they can use it to its full potential. I'm sure there are a few PS3 exclusives they would want to play even if they're not Sony fans.

Ah, I did forget about the remote control

If they're movie people, and I assume they are, they probably have a universal remote and would like to continue to use it.  Sadly, you cannot use the PS3 and a universal remote unless you get some sort of third party attachement.

The two that I can think of are:

• The Nyko Remote which is a giant flaming pile of dog poo.  I had one and I despised it because it cannot turn the PS3 on and off (not counting manually navigating to power off) and it occassionaly (and by that I mean 3/4 of the time) presses directional arrows more than once.  Don't get this and dont' advise people to get this.  It sucks.
• Logitech Harmony Remote Adapter is the much better choice.  It works very well and can even power on and off the PS3.  The only drawback is that it's a good $40 more.

Well, instead of a BD player I'm getting a ps3 slim - It just makes better sense, as you can also download movies etc. Why not have it all :D

When I moved the PS3 into the living room and replaced my Blu-Ray player the wife (non-techy) had a fit. Absolutely hated it, universal remote didn't work and no play, pause, ff, etc buttons on system itself. Subsequently, I now have the PS3 and BDP on my main TV.

IF that isn't a barrier to your friend (sounds like it isn't) then sure, why not. Personally? I prefer a stand-alone Blu-Ray player, but that's just me.