decent universal player on beer budget??

Hey guys,

I am putting together a secondary system and am now looking for a source. The system is now comprised of the following:

Marantz SR4300 a/v reciever
Monitor Audio Bronze B1 speakers
Mission M30i speakers
Mirage NanoSub subwoofer

As for budget, I dont see or have the need for spending more than US$200. I would love it to be a universal if possible. I am looking at the Pioneer DV-588A for around $US120. Will this get me decent sound? What I like about the Pioneer is its ability to play just about everything including DivX. If the sonics match the flexibilty in formats by even an inkling, it should be worth it right? Right now I am using my pc , with an M-Audio Audiophile 2496 sound card as a media center, but want to break away from that for the sake of conveience. The size of my room dictates that my speakers cant be placed optimally to use my setup for gaming and TV watching without some difficulties,hence the request. I will get studio monitors for my pc in the future.
Are there any other recomendations for units in this price range? Anything that you may have had experience with?
Remember this is a seccondary rig for my bedroom and not a state of the art HiFi.

Nothing in this setup has cost me more than US$300 a piece and I will love to keep it that way.

Thanks.
D