Had a bit of a mishap with our old DVD player last week when I went to view my region 1 edition of Top Gun. Basically it appears that our old multi-region DVD player is no longer multi-region, no matter how many times I reset it. When this is the major reason for it being in the cabinet underneath the TV it somewhat defeats the purpose of keeping it.
The good news? A search at Amazon seems to indicate that multi-region DVD players are now pretty cheap. Certainly they're considerably cheaper than they were when we bought our one six years ago.
The lesson here is that technology always gets cheaper, and so it isn't worth stretching yourself to get it. In fact when I have saved for items I have found that my savings and a price dropping have met at a satisfactory middle ground. For instance the digital camera that I want to upgrade to is dropping significantly on some sites, so hopefully it might even be less than it currently is when I finally choose to buy it (here's hoping anyway).