Well, I had a lot of (subjective and objective) problems. Here we go:
1. The third day I had to return the Philips. It was faulty. Got a replacement.
2. The remote control is ugly and far from being practical with shortcomings like lacking an eject button.
3. The player looks cheap with the glossy plastic front and tray. Buttons are "fashionably" designed, but difficult to make out because of the reflection on the glossy surface. And the "multichannel diod"'s blue light can bother some people watching the movie. You can not dim it.
4. It takes too much time for the player to let you insert a disc (you can do it after the panel displays "loading"). I found it annoying.
5. Picture is very good to my mind, like the sound. But there is a problem of multichannel-2channel selection as it can not remember the setting. It is always set to multichannel.
6. If you watch it carefully (and the blue "multichannel" diod that you can not dim, LOL) you can always notice when it changes chapters. It can be annoying too.
7. First real problem started after some months watching a movie with forced subtitles. There was a white stripe behind and on the left side of subtitles. It turned out to be a bug of the original v24 firmware. I was adviced to upgrade the firmware to v33. I did it from the official site of Philips.
8. The main problem which led me to the final decision of returning the player for good was that my backups started to skip and freeze. It turned out that it was a bug of v33.
Actually when I bought it I made a compromise because the Pioneer was not available at that time. I made a mistake, though tried to convince myself that Philips is also a good choice.
There are many more problems known and discussed in Forums all over the net, like subtitles in DivX, etc.
So, I think it would be a very good decision to replace it with the Pioneer that is considered to be the best player in this category. No problems with it, it is different, more reliable, sophisticated and so on.
And just an interesting observation: Forums on Philips DVP720SA are at least twice as big as on Pioneer. No wonder why.
What is better in Pioneer (subjective view in a nutshell):
1. Overall design (solid and practical) of the deck and the remote control.
2. All-in-One capabilities, i.e. playing DVD, VCD, SVCD, CD, DivX, SACD, DVD-Audio, DVD DL, etc.
3. Reliability, precision of the laser calibration as well as error-correction capabilities.
4. Picture quality, best I have ever seen in this category.
5. It is equiped with Tamura high quality electronic components (World's number one in its field).