The DMR-EZ48V is a DVD Recorder that can also play DVDs if the owner is so disposed to play DVDs with a DVD Recorder. In the AVS Forum the common wisdom holds that to prolong longevity of the laser assembly it is best to play DVDs on DVD players, not DVD recorders.
DVD players are more full-featured and are less expensive to replace once the laser assembly has come to the end of its lifetime. Multiregion DVD players are not expensive to purchase and many Region 1 DVD players may be hacked for use with DVDs from other Regions. There are several (USA) sellers specializing in multiregion DVD players and there are a number of websites with hacking information for DVD players. Attempting to hack a DMR-EZ48 is a good way to turn it into a $300 (USD) doorstop.
Once the laser assembly has failed in a (USA/Canadian) DMR-EZ48, Panasonic might exchange the EZ48 for a "refurbed" something or other if the EZ48 is still under warranty. If a (USA/Canadian) EZ48 is out of warranty Panasonic might exchange it for $140 (USD) for a "refurbed" something or other. At the present time there continues the $130 flat-rate repair at the Elgin Illinois (USA) Service Center. Current information is found here:
Outside North America one should check with an authorised Panasonic Service Centre to determine the cost to replace the "optical pick-up" (Panasonic's term for laser assembly). That should be enough to convince one not to use a Panasonic DVD Recorder as a DVD player.