My friend has a Pioneer Elite Player from a while back and we compared it to a recent Toshiba model (3900 or so - forgot the number) and they were comparable. The Pioneer had better depth, the Toshiba had better presence. But the Pioneer was run through a DAC.
Then we switched the Toshiba to run through the DAC and it was the winner.
I then bought the same DAC - real cheap, the Xin Sheng DAC-01 and hooked it up to my system. You can hook up normal analog L/R signals and also hook up the single RCA/75R digital output. Then when you switch the inputs, same music, you can hear the difference. At low volumes, using small speakers.
My best guess is that, with each new generation of Toshiba DVDs, they use the current generation of DACs and this accounts for the better sound. And this makes the sound better and at prices below $50 from stores like Best Buy.
You don't get the fancy remote controls, nor the loading speed, but you get close to the best possible sound for under $150 including the DAC.
All the better for music lovers!
Bob