Well if your looking for something cheap
get a 1GIG computer,
A regular DVD rom that does not make sounds or sounds like it is working its brains out or make mice noises. I forget which date but after 2000 they stop making Region free DVD players.
And get a DVI or RGB card that can fit into your tv screen
Get Linux and look for Mplayer GUI or get MPlayer and make your own GUI. You can also get BSplayer for Windows and work with that. Then aain MPlayer has remote control support.
and presto instant Video player. Well that is my idea of a perfect palyer. I just need the case, memory, and power supply with good plugs.
After that you can just download media record it to a regular DVD-R or CD-R and presto play without fear of anything.
So far I able to watch DVD's and watch my video threw my DVD-ROM without fear of anything.
Then again the PS2, X-BoX, 360, Pannasonic Q, Dreamcast add-on, and PS3 counters as a DVD player with balls.