What's cheaper than a $98 Blu-ray player from Wal-Mart? A $57 Blu-ray drive for your PC. That's the deal from ZipZoomfly, where you can get a Lite-On iHOS104-06 Blu-ray drive for $56.99 shipped.
Granted, this isn't the ideal solution for everyone, but if you have a PC hooked up to a big monitor or an HDTV, it's aces. (Just make sure you're using a DVI or HDMI connection to avoid copy-protection issues.)