Your mileage may vary, as always. I use my BDP-1 as a DLNA renderer every day, over a Wi-Fi bridge (Apple Airport Express) and with 192/24 tracks.
It really works well, but to keep things hiccup free, you need to turn everything else off (except for MPD) and set a scratch drive. I agree, however, that MPD playback has the advantage for sound quality, but it still sounds quite good.