Do you have a reciever that is HDMI 1.3 compliant ("repeater", not "pass-through") and supports the lossless audio (Dolby HD and DTS Master Audio) found on Blu-Rays?
If not, then I'd forego HDMI for now altogether and just stick with component for video and either digital optical/coaxial for DD/DTS or analog outs for the lossless formats. HDMI won't provide any advantage in video performance for upconverted DVDs, and any conversion to component will be at 1080i anyway. The only potential benefit of HDMI would be carrying the audio - and how much that benefits you depends on your receiver, etc.
I am partial to the Panasonic Blu-Ray players - I have the now discontinued BD-60 player and am using HDMI for video and analog outs for the audio. I have been very pleased with the fast load times and overall trouble-free performance of the Panny. I did update the firmware as soon as I got it, and it's profile 2.0, which, IMO, is a must.