If you're going to play a lot of VCDs, get something else. I had read everything under the Sun about the release of DVD, and this one just fell in my lap. Ready' Kenwood receiver. The performance was excellent and it has continued to perform well since. I have had to clean it a couple of times to keep it playing well on the Matrix and some other DVDs.
Picture quality is good and sound is good.
Considering this is a first generation player, its reliable serivce to date are a good indication of its quality. I have upgraded to a Marantz 880 MkII receiver with its own AC-3 decoder and sound has improved significantly. Although the on-board decoder is solid, the Marantz greatly enhanced the overall sound quality. I will be buying another DVD soon for my new home theater room that is nearly finished. I will look carefully at newer Panasonics, yet will likely move to Marantz or Onkyo as an upgrade.