We identified the Samsung BD-P1500 as the cheapest Blu-ray player on the market two weeks ago. Our review partner Digital Trends just published a review of the Samsung BD-P1500 and gave it thumbs up and their verdict says that the respectable performance and low price make the BD-P1500 an ideal entry-level player.
Quote from the review: "HD-DVD's fatal fall at the beginning of 2008 kick-started the race to build players that meet mass demand with consumer-friendly price tags. Samsung's BD-P1500 is among the first to challenge the $400 low water mark set by the PlayStation 3. While its (current) lack of BD Profile 2.0 support will disappoint buyers who want absolutely everything Blu-ray has to offer, the BD-P1500 remains a solid and affordable choice for average home theater buyers looking to break into Blu-ray."
Read the full Samsung BD-P1500 Blu-ray Player Review.

Right now Amazon.com sells the Samsung BD-P1500 for $214.99 and you get on top of that low price the The Ultimate Matrix Collection on Blu-ray for Free.