Are there any blu ray / audio set up combos that's worth the investment?
...but, then, also:
This thread isn't about the cost of a dedicated player, it's the quality of them over consoles.
I don't mean to be a pedantic dickhead, but these requirements sort of exist in opposition. "Worth it" is always going to be a, "How much additional expense are you willing to incur?," proposition - hence, cost.
AV equipment (console or not) is (and always will be) the wine pairing at The French Laundry. To explain this admittedly esoteric analogy: Upon inquiring as to an appropriate pairing when ordering dinner, the server asks you, "What would you like to spend?"
Practically, I ran a Sony X800M2 for a while - got fed up with it (required periodic reboots after freezing) and eventually upgraded to a Panasonic UB9000. I have used an XBox in the past. Both dedicated players were superior in regard to video output/performance vs. the XBox. The Panasonic is fantastic, but it's also a thousand dollars.
Consoles are definitely "good enough." If you don't have Atmos speakers installed in your ceiling, are sitting 15 feet from your display, are viewing in a room with ambient light, can hear the refrigerator compressor kick on in the adjacent kitchen, etc...you're not really going to get much "bang for buck" with a dedicated player (supporting Dolby Vision/Atmos, better video/sound processing, etc.) and the additional cost it entails.
On the other hand, one thing I have not seen mentioned: device noise. I don't run a current console, so I cannot attest to the noise the newer machines (PS or XBox) make when playing UHDs. I will say, with past consoles, the hum/fan noise was not acceptable (too loud) during film playback. If you are also investing in great cinema sound (Atmos, etc.), the last thing you want is a 40 dB whir detracting from the quality of your sound output. Most of the higher end UHD players are supposedly constructed with this in mind (rubber dampers, insulation, etc.), so, in my case, I can confirm the UB9000 produces almost no noise at all.
So, perhaps a dedicated player is worth it if you are a psychopath like me (I turn air conditioning off while watching a film to avoid unwanted, extraneous sound).
However, regardless of your approach, there is also the source (the disc, itself) and what you're going to get out of it. For every "Oh my god! This remaster is amazing and my high-end player brings it all out!," there is also a, "Did they even bother or just upscale a 2K DI and retain the 5.1 channel sound from the DVD?" Throw that disc in and you'll be regretting spending 500-1K on a separate machine.
Bottom line: If you are going to build out an awesome sound setup and you have a great display or are planning to acquire one, spend the extra money for a separate, dedicated player and accept the fact that it's not always going to be "worth it." When it is, though, your experience - with whichever film - will be a step above and this, alone, may be "worth it" to you.
Unrelated bit in regard to:
I also maintain my father's 1990s stereo receiver and EQ mixer and speakers for my vinyl player. I just haven't heard anything that has outdone it yet.
I love vintage equipment. I had an old Grado cartridge I inherited from my father who acquired it in times forgotten and someone (who will not be named) broke the stylus a couple of years ago. I cried. I've since replaced it and am happy with current output, but feel like I'm chasing the dragon and will never be able to get that same perfect sound again. What are you running turntable/cartridge/receiver/EQ/speakers for vinyl playback? I like querying others because I'm an amateur when it comes to dedicated record player setup (still running my turntable through the home theater A/V processor) and am, as such, intrigued.