It's all about the walk vs. the talk. Sure, Denon said they were coming out with players for Blu-ray... just as LG promised to be the first company releasing Blu-ray players to the market at basement pricing levels...
But talk is cheap, and until we get it a bit more official, it can be hard to come by the goods instead of it being pure vaporware.
It isn't vaporware anymore:
http://www.usa.denon.com/ProductDetails/DVDPlayersAndChangers.asp
Not cheap, but Denon rarely is - at $1200 and $2000 these are obviously more high end pieces set to go with the finer home theaters. Obviously some serious reviews are in order to see how these stack up to the PS3 and other Blu-ray products, but it represents one more company who has made the ground up investment to design and build their own Blu-ray product.
2008 should prove to be a very interesting year indeed.