Well, I bought one.
As I said in the Subject line, I am impressed. This is the most versitile unit I have ever seen.
I tried it with CDaudio, CD-R audio, CD-R mp3, CD-R avi & mpg (played some but not all, but I don't know if the ones it didn't play are good or not as the CD was from a friend and I hadn't looked at it before today), DVD and DVD-R. It should also handle the other DVD and CD formats according to the specs.
It seems to be a solidly built unit 9"x9"x2.5". The case is metal, it has some "heft". Mine's silver, but it also comes in black. It is small enough and appears to be sturdy enough that I can bring it with me on a trip if I feel the need. The only "drawback", and it's a very minor one, is that the remote takes a button battery rather than the more common AAA batteries. It has output jacks for Digital Audio CoAx, Standard AV, S-Video and Component Video with Progressive scan.
From what the specs say, it'll handle NTSC and PAL and there's a site which shows how to access the submenu which controls the region code. I have no DVDs to try this with, but I'm going to ask JB if I can borrow one of his.
Even without the Best Buy rebate, $40 is a great price for this unit. The extra $5 makes it even better.