Well, personally i would have gone for the PS3
It can play CD/DVD/Blu-Ray
It can output in surround sound
You can install an OS and even BOINC on it
You can even browse the web with it
You can play games on it!
So I'd go for a PS3 simply because it has more features then a standard Blu-Ray player and plays a Blu-Ray movie brilliantly as a friend of mine has it set up.
Now an argument against that could be, well a Blu-Ray player is dedicated to just playing movies and is therefore better. Well.. Personally I think that is what a cow might drop as I have watched black hawk down in Blu-Ray with surround sound and it was brilliant.
Also, because the PS3 has built-in wireless and wired connections you can download new movie trailers onto it and even firmware updates for the Blu-Ray player to upgrade certain features or downloadable content.
So verdict is PS3 hands down for me :D