Reddit mentions of Sony BDPS5200 3D Blu-ray Disc Player with Wi-Fi (2014 Model)

You could just buy a Region 1 BD player. I bought a Region 2 player so I could start collecting all the great UK releases. I have this one (except mine is Region 2) and it's great. Having both a Region 1 and 2 is more than enough for me. As for a Region 2 CC alternative, Arrow and Masters of Cinema are pretty great.

With $500 a 5.1 is very possible. Let's see if we can do a shopping list.

• AVR - Denon AVRS500BT-R $200
  
  
• BDP - Sony BDPS5200 $75
  
  Speakers - This is the hard part. You have several options that I see take a look as ask questions.
  
  

1. Dayton Audio HTP-2 $200 This would be a good set to look at because of the sub. The Dayton 10" is more than capable for a small to medium sized room.
   
   
2. JBL Cinema 510 $200 This set should be for smaller rooms only. The ultra small sat size could be a good or bad thing.
   
   
3. Monoprice 108247 $105 Cheaper of the monoprice sets...it's cheap.
   
   
4. Yamaha NS-SP1800BL $130 Small stats with a decent sub. Should provide you with a nice base to start with.
   
   
5. Build your own set - 3 set of Micca COVO-S $120 + a Dayton Sub 800 $110. Puts you right at the upper limit with no wire/cables/stands.
   
   

• MISC - Speaker wire $10, optical cable $6, HDMI Cables $10, and sub cable $12 if you get the Dayton set or the make your own with the Dayton sub. You could also add in some stands $40 if you wanted to get the speakers to the right height.
  
  
• Edit to get the links right