Panny's player can decode Dolby TrueHD and DTS-HD 5.1-channel audio on any 5.1 surround system without a hitch, while the $400 S350 will only do this with HDMI-based receivers (it downconverts the audio otherwise). In addition, the Sony player isn't equipped with BD Live features out of the box—it'll take a software update, not out yet, to bring it up to profile 2.0.

If you're looking for a Blu-ray player in the near future, the HD Guru suggests you should spend the extra Benjamins on the BD50. (Or you know, get a PS3.) Hit the link to read the nitty gritty. [HD Guru]

Also worth factoring in is the step-up S550 available this fall for $100 more, which adds on-board DTS-HD audio decoding and a bundled 1GB flash storage device for BD-Live. So what'll it be, the PS3's power consumption of 8 refrigerators or a sleek green dedicated Blu-ray deck that can't play games?

SONY’S NEXT-GENERATION BLU-RAY DISC PLAYER NOW AVAILABLE AT SONY STYLE STORES AND RETAILERS ACROSS THE COUNTRY
New BDP-S350 Delivers Full Promise of Blu-ray Disc with New Features, Technology

NEW YORK, JULY 16, 2008 – Sony’s next-generation Blu-ray Disc player, model BDP-S350, is now available across the country at Sony Style retail outlets, sonystyle.com and other authorized Sony retailers.
The BDP-S350 supports BonusView (picture-in-picture), which is featured on select new Blu-ray Disc home video releases, and is also BD-Live ready, with an Ethernet port for easy firmware updates and access to Internet-based interactive content features. A firmware update enabling BD-Live is planned later this year.
It also features quick start up mode improving the player’s boot up time to approximately a few seconds and offers an external port for local storage for BD-Live, allowing users to add an optional flash storage device (sold separately).
“We leveraged our expertise in film production and digital technology to build a machine that movie fans would truly love,” said Chris Fawcett, vice president of marketing for Sony Electronics’ Home Products Division. “An advanced Blu-ray Disc player like the BDP-S350 is a must for every HDTV owner because it delivers the ultimate video and sound quality, while unlocking features you can’t find on DVD, downloads or video on demand.”
Since many consumers own extensive DVD movie libraries, the BDP-S350 incorporates Sony’s new Precision Cinema HD Upscale technology that converts standard-definition signals (480i) to 1080p and outputs a full HD equivalent resolution signal to 1080p TVs via HDMI. Additionally, the model also adds Sony’s new Precision Drive HD, which helps to detect and correct wobbling discs from three directions, stabilizing playback of bent or scratched Blu-ray Discs and DVDs.
Not only does the new BDP-S350 model deliver enhanced performance, it is easier on the environment. Compared to Sony’s previous BDP-S300 Blu-ray Disc model, the new BDP-S350 model reduced the overall unit size by 55 percent, reduced packing material by 52 percent and reduced the unit’s total weight by 38 percent. The compact size of the finished package allows Sony to reduce the C02 emissions related to shipping by approximately 43 percent.
In addition, the unit features 21 percent less power consumption in playback mode and 43 percent reduced power consumption in stand-by mode. It also features lead-free solder, all-paper packing and the user guide is printed on 70 percent recycled paper with Volatile Organic Compound-free vegetable oil based ink.
The model offers 7.1 channel Dolby® TrueHD and Dolby® Digital Plus decoding and bit-stream output, as well as DTS®-HD High Resolution Audio and Master Audio bit-stream output.
The BDP-S350 supports AVCHD discs encoded with x.v.Color™ (xvYCC) technology, an international standard for wide color space reproduction. The standard expands the current data range of video by about 1.8 times, allowing the players to output more natural and vivid colors similar to what the human eye actually sees in the natural world. The players also feature compatibility with an array of video formats, including BD-R/RE (BDMV and BDAV modes), DVD+R/+RW, DVD-R/-RW, CD, CD-R/RW (CD-DA format), and JPEG on DVD/CD recordable media.
The new BDP-S350 is now available for about $400 at Sony Style stores, online at sonystyle.com, at military base exchanges, and at authorized retailers nationwide.

•PFR V1 - Funky head-worn speakers that reflect full-range sound into your ears

•NHS 130C - A massive rack-mounted high-definition audio-video system

•MDR AS100W - Outdoor sports headphones that convert into earbuds when the workout ends

•NWZ A720, A820 and A820K - New 2.4-inch screen A/V Network Walkmans (Walkmen?) with Bluetooth A2DP

• - HT-7200, HT-SS2300, HT-CT100 and HT-DDWG700Home-theater-in-a-box systems to accompany Sony's Blu-ray players (sold separately of course)

•PS-LX300USB - A USB turntable for converting your old records to MP3

[More Sony on Giz]

While both support 1080/60p and 24p video and can decode Dolby TrueHD and Dolby Digital Plus, the S550 can decode DTS-HD High Resolution Audio and Master Audio, and has 7.1-channel analog outputs (rather than, we presume, 5.1 on the S350). The S550 will also come with a 1GB "storage device"—what we're guessing is a flash-based Micro Vault—and will be BD-Live capable right out of the box.

The most important difference, besides that $100 and a little bit of girth, is that the S350 is slated for a summer release, while the S550 won't be here until fall. Screw that, we're not waiting.

We do, however, have some concerns. An inevitable software upgrade to the PS3 could make many of these features available for free, and even the analog-output issue may be able to be solved by an accessory, not that Sony Computer Entertainment would build it. Perhaps more frustrating, from the high-end home theater perspective, is that there is no replacement for the super deluxe but utterly impotent BDP-S2000es. Already ghettoized by Panasonic's far less expensive DMP-BD30, it will now be thrashed by its own supporting players.

Here's the press release:

SONY ADDS NEW BLU-RAY DISC PLAYERS WITH ADVANCED INTERACTIVITY

New Models Feature Ethernet Port for Interactive Functionality and Easy Firmware Updates

LAS VEGAS, Feb. 26, 2008 - Sony updated its Blu-ray Disc player line today with two new models that will be capable of accessing advanced interactive features such as BonusView and BD-Live.

The BDP-S350 and BDP-S550 models both support BonusView (Picture-in-Picture) featured on some of the new Blu-ray Disc theatrical releases. The BDP-S350 model is BD-Live ready featuring an Ethernet port for an easy firmware update and access to Internet-based interactive content features. The BSP-S550 is BonusView and BD-Live capable when it ships.

Both models also feature an external port for local storage, so users can add optional storage device. The BDP-S550 ships with a 1GB storage device.

"Building on the exceptional picture and sound quality of previous players, Sony's next-generation Blu-ray Disc models bring exciting interactive features to life and offer consumers a ground-breaking experience," said Chris Fawcett, vice president of marketing for Sony Electronics' Home Product Division. "These new devices bring home movie experience beyond the cinema and into a whole new realm of entertainment."

The players feature 1080/60p and 24p True Cinema output. They are compatible with most standard DVDs and feature 1080p upscaling through an HDMI connection to capable HDTV sets, improving the picture performance of existing DVD libraries.

The models offer 7.1 channel Dolby® TrueHD and Dolby® Digital Plus decoding and bit-stream output, as well as dts®-HD High Resolution Audio and Master Audio bit-stream output. The BDP-S550 adds dts-HD High Resolution Audio and dts-HD Master Audio decoding as well as 7.1 channel analog audio output.

The players support AVCHD discs encoded with x.v.Color™ (xvYCC) technology, an international standard for wide color space reproduction. The standard expands the current data range of video by about 1.8 times, allowing the players to output more natural and vivid colors similar to what the human eye can actually see. The players also feature compatibility with an array of video formats, including BD-R/RE (BDMV and BDAV modes), DVD+R/+RW, DVD-R/-RW, CD, CD-R/RW (CD-DA format), and JPEG on DVD//CD recordable media.

The new models feature a slim design with reduced depth and height compared to previous models matching Sony's new home-theater-in-a-box systems, the HT-SS2300 and HT-CT100 T-SS2300, also announced today. Optimized for Blu-ray Disc™, the new component systems feature three 1080p compatible HDMI™ inputs making them the perfect match for a Full high-definition home theater when connected to a new Sony BRAVIA® 1080p HDTV.

The new BDP-S350 ships this summer for about $400 and BDP-S550 will be available this fall for about $500. They will be offered at Sony Style stores, online at sonystyle.com, at military base exchanges, and at authorized retailers nationwide.