BTW, the concern about Profile 1.0, 1.1 and 2.0 is that you may not be able to access all the features in the newer Blu-Ray releases. I'm just worried that you'd pay extra for a combo player but end up having to buy a new Blu-Ray player later anyway.
As LIH Prem mentions, the PS3 is 399 USD, though I mostly see it for just over 500 USD with one game, an extra controller, and the Blu-Ray remove (whatever that bundle is called). The great thing about the PS3 is that Sony's been very good about providing new firmware (or whatever it is) for the newer Blu-Ray profiles, so it's been able to keep up with the changes.
I just saw a Toshiba HD-A3 at Costco (warehouse store in the US) for 79 USD with the ubiquitous two free movies in the box.