DVD player prices have come down so much that you should be able to find one for under $50 (easy, maybe less) at any of the large electronic stores.

Good news, you will find the special features on rentals, comentary and other "stuff" on DVDs double the entertainment. No rewinding, jumps to any point on the DVD. Many play CDs and other formats, like photos also.

Bad news, you won't want to look at your VHS tapes anymore.