Yes, unless a blu ray movie you're going to play only contains a 3D movie. It will play 2D blu rays and DVD's fine (and will upconvert the DVD's also as do all blu ray players).
I have a Panasonic TH-50PZ700U HD Plasma TV and I need to buy a Blu Ray player. I would like to buy the Panasonic DMP-BDT210 which is a 3D Blu Ray player. Will it work on my TV?