I don't have one of the really high-end players, but I have a CLD-D703 (704 without AC3) and an LX900. Personally, I think the Panasonic has the best picture quality of the two. I used to think DVNR was useful. The LX900 just has off/high/low settings, but the D703 has the five adjustable chroma settings and the five adjustable luma settings. I used to use these with 27" and 32" TVs and the noise reduction seemed useful. For going on a year now, I've been using them with a 53" HDTV. On the bigger screen, I can't stand the noise reduction. To me, it seems to always reduce detail. I'd rather have the noise and keep the detail. Is it just me? Or is it my players?