Yes, it's basically the same. But the disadvantage with playback on your PS3 and/or your DVD player's USB port is that format support will be limited. You will eventually encounter many files that will not play properly.
I converted a DVD that I own into a 1.5GB file (Ave. bitrate 2.148 Mbps, 720 x 320 resolution, AVI container, XviD codec, Dolby 5.1 audio), then tested it on my Philips DVD player using a USB thumb drive . Play stuttered on high-action scenes. 1.5GB na nga lang yan, pumapalya pa.
HTPCs and NMTs, on the other hand, were specifically designed to play downloaded media files, so format support and playback performance are expectedly superior. (The above-mentioned AVI file played flawlessly on my WD media player.)
It's up to you how far you're willing to go. To my mind, the starting point is really your monitor's capability.
Get a high-resolution monitor or front projector, and only 1080p-MKV files can satisfy you. You will not be happy with a WD media player; you will have to get at least an NMT. Then you will need more hard disc storage space. Then a faster internet connection. There's no telling when the rounds of upgrades will ever end.
But if you limit yourself to a low-resolution monitor, then you'll be just fine with 700MB files. No need for expensive players, terabytes of storage, or blazing-speed internet connections.
What I'd be interested in is DVD player that also front-loads a My Passport. No need to plug and unplug a USB port, just dock the My Passport like an 8-track audio tape cartridge. Now that would be really convenient.
Parang walang katapusan talaga tong hilig natin! hehe!
Ok what about the loads of special features on some BDs... For those downloading HD torrents, is it alright with you guys just to watch the HD movies knowing that if you get BDs, you'll be getting more bonuses along with it?