Then does the quality of the player matter much if its just running source direct?
I don't know, but my guess is that as long as you get a "decent" player, you are fine.
If I had both options disposable to me, I'd prefer the player to do VP, as we do ask a lot of receivers. However, if the VP was already bought with the purchase of receiver, I guess I'd save the money.
But, if you're like me, once you see bluray, you might not care for 480i sources anymore, no matter what the VP.
What would be a good universal player for a Denon 2310 or 4310?
IMO, there is only one company worth looking at that truly makes a
universal player, and that is Oppo, no matter what receiver you buy.
Think about it. What else plays SACD/DVDA and bluray?