Blu-ray noob question : PS3 vs. Component Player

[DarrinC]

I'm sure that I can't be the first to ask, but I can't seem to find any opinions on this. Is the quality of the PS3 playback of Blu-Ray movies the same as a component player of equal cost?

I am interested in movies 95% and perhaps games 5%...I can certainly do without the games, but if the quality and experience (load times, audio options, etc) are equal, I'd probably go with the PS3.

Also, does the PS3 support any audio option that is on the disc (5.1, 7.1, etc) or only certain ones?

Thanks,
Darrin