I have not used a commercial player (except on a 3-D disk) for years and have '00s of BD on HDD. Compared to HW Players (Eg the PS3), you will find the following with MC:
-'ve : No Menu (native) support (MC will start playing the main title with the default audio and subtitle streams. You can change them by using the MC stream selection but not via the menu of the discs)
-'ve : No 3D Disk support
-'ve : Only plays unencrypted discs (with is why you need a product like Anydvd) but it leads to the following plus:
+'ve : No issues with region coding, encryption, watermarking etc - content just plays
+'ve : Playback Quality can be better (if your HW will support) thanks to ROHQ, Enable Automatic Display Settings Changing, and Video Clock (note: the requirements to add decoding of full ditbepth DTS-MA support)
+'ve : Can playback from Disc, HDD Structure, or from a mounted ISO
+'ve : Can manage the BD like any other content (such as coverart, tagging etc)
+'ve : Can stream (and transcode on the fly) BD content to Gizmo anywhere in the world
....plus all the benefits of having all media in one place.