Should I get the cheapest Blue-Ray disc player or buy the cheapest video game console which plays Blu-Ray?

I know, I should know what I need and what I want but I’m hoping to be persuaded here, even inspired? Lol.

My SO just bought a Sony Bravia LCD 40 inch TV and now I’m beginning to wonder about Blu-Ray quality video. We held on to our tank-heavy old fashioned TV for years and I think upgrading at this point won’t be too frivolous as most people I think have switched to either an LCD or LED TV.

But when it comes to Blu-Ray disc players, would you just get a dedicated player or get a video game console which plays Blu-Ray discs? Does Blu-Ray technology really makes the viewing experience much better watching it on an LCD screen? Thanks!