Precision Cinema would probably refer to the name of Sony's 3:2 reverse
pull-down process for DVDs of filmed movies for progressive output on the
component (Y, Pb, Pr) connections.

3:2 reverse pull-down is necessary to properly assemble 3:2 pulled down 30 FPS
interlaced video for progressive scanning. 3:2 pulldown is a processs that
essentially makes a 24 FPS film fit into 30 FPS interlaced video without
problems. This process has to be undone if you are scanning it progressively,
otherwise you'll get picture artifacts.

For DVDs from sources originally 30 FPS, reverse 3:2 pulldown is unnecessary.

Be advised, pretty much all decent DVD players will have a reverse 3:2
pull-down process equipped with the option to manually select what process to
use or automatically detect what process to use. You also have the option to
employ an external solution to handle the progressive processing or even allow
the TV to handle it (provided that the TV's integrated
interlaced-to-progressive scanning conversion is decent).

As for the "combo player," if you are referring to a VCR/DVD combo, stay far
away from those pieces of junk, regardless to who made them. - Reinhart