We've pitted it in our June 2009 issue against Sony's five-star BDP-S350 and brand-new models from LG and Samsung.
The LG BD370 is the first player we've tested from LG since the company's well-intentioned Super-Multi Blue hybrid Blu-ray/HD DVD player, and Samsung's BD-P4600 looks to have come directly from a warehouse-style loft apartment.
So can Panasonic hold on to its budget Blu-ray crown, or is there a new contender ready to take top honours?
All is revealed as our team of expert reviewers discuss the pros and cons of each model in our latest podcast.