DVD players are a commodity, period. The only real decision is whether or not to get one with progressive-scan display, which will make movies look significantly sharper on a digital television. Since this feature is nearly free these days and DVD players are fairly long-lived devices, why not?
If, however, you're shopping for a DVD recorder, things get more complicated. The industry, showing that it is incapable of learning the most obvious lessons from its own history, is still locked in a three-way format battle. But you don't have to get tied up in this silliness. Get a DVD+RW recorder, and you will get an excellent mix of recording flexibility and simplicity, plus compatibility with existing players. Look for one that also includes a FireWire port, which will let you archive video right off a digital camcorder.
Some higher-end DVD recorders offer one or both of two step-up features: an electronic programming guide (which can simplify recording shows by letting you choose their names out of a simple schedule grid) or an internal hard drive (which brings TiVo-like functions like instant replay to the picture).