Frankly I would not recommend buying a DVD player now at any rate...move upto a DVD!!
If you cant or dont want to then basically look for the same things which u would look at while buying a DVD.... Multi-format, DTS etc....relaibility...after all its only the playback format which is different nothig else.
Buy branded
Ensure that there is some surround sound, Dolby software
Never buy without a warranty
Get as many formats as possible...MP3, JPEG etc
Other small stuff like Karoke inputs, Maybe a few more outputs with respect to audio
A multi disc carousel..a vcd player can act as a audio cd player as well..getting a 3 disc would make sense from 2 ends in that case and vcds are mostly in two or threes so then u dont have to keep getting up and changing..music or movies.
Enmsure that the piece is fresh and has ABSOLUTELY NO SIGN OF WEAR ON IT
Inquire about the lens which is used.
Dual LEns pickup is better than one...but will be more expensive.
Thanks.