It was, originally. I'm sure this unit will never have 1.1 capability, and the BD java features load painfully slowly. For just watching movies it's pretty decent.
It really does irk me that they had to release an update just for this one movie. It is worth debating who made the mistake here. Was it the distributor (Fox)? Was it Sharp? Who did not adhere to the standard and made this necessary? And will this continue to be an issue? This has not been a big problem with DVD, although recently there have been a couple of releases that my older DVD player has had trouble with (especially "Reign Over Me"). I can't imagine anyone would stand for installing a firmware update for every movie that comes along. I am pretty forgiving about such things, but my wife would throw a fit - if she ever actually watched a BD release.