That would depend on the quality of the DVD player you would have used if you weren't using the recorder. Others in the forum have suggested that the Panasonic DMR-E20 is about as good a player as a 400-500 pound player. Is that good enoguh for you?
Other thing to remember is that the recorder seem to be more expensive to Multi-Zone. Is that an issue?
I have an E20. I also decided to get a Pineer 444 DVD player for use as the work horse player. DVD recorders being expensive at the moment I think it makes sense to use them mainly for just that and use a DVD player for playback. It is also usefull to confirm that DVD-Rs made in the recorder will play back on other DVD player equipment. Gives you that extra peace of mind.