Sharp's BD-HP50U Blu-ray Disc player with profile 1.1 support

Sharp already outed the BD-HP50U Blu-ray Disc player during the Sharp press event. Now the details. BD-ROM profile 1.1 support for all that crazy (and often useless) PIP you can stomach, HDMI 1.3 digital output at 24fps, x.c.Color, Dolby TrueHD and DTS HD 7.1 channel audio with Lip Sync tech to automatically adjust audio and video processing times. Yours in May for $700. Really Sharp, $700?